General Equilibrium Analysis: Its Meaning, Purposes and Limitations

Robert E. Kuenne
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Robert E. Kuenne: Princeton University

Chapter 6 in General Equilibrium Economics, 1992, pp 127-171 from Palgrave Macmillan

Abstract: Abstract The need for scientific analysis springs from a fundamental bias of our natural and social environment against sameness and constancy. Physical objects that are similar in specified attributes will vary among themselves in the exact degree to which they possess such attributes. Static variation of this type is compounded with dynamic variation — or change — in the same object’s attributes over time. The ubiquity of variation, manifest in the very triviality of its assertion, forces upon man, individually and collectively, a concern for its patterns. Upon his ability to accept and shape them to his ends in a nonintuitive fashion is based his sanity and his survival.

Keywords: General Equilibrium; Demand Function; Specific Solution; Excess Demand; Supply Function (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-12752-8_7

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DOI: 10.1007/978-1-349-12752-8_7

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