Optimal Allocation of Resources

Takashi Negishi
Additional contact information
Takashi Negishi: The Japan Academy

Chapter Chapter 7 in Elements of Neo-Walrasian Economics, 2014, pp 109-126 from Springer

Abstract: Abstract Up to now we have been concerned with the description and the analysis of how a market economy, composed of consumers and firms, actually behaves to allocate resources to produce products and to distribute incomes to be spent on them. Our study aims, of course, to consider basic principles of an abstract economy under ideal conditions rather than to describe the details of actual economies. However abstract it is, nevertheless, what we have studied is to be called the positive economics, since it is ultimately to be judged by facts. Ideal or perfect conditions are assumed merely from the point of view of the simplification of the consideration, and not meant to be desirable from some ethical point of view. Theory of perfect competition is, therefore, similar to the law of motion in vacuum.

Keywords: Marginal Utility; Marginal Rate; Pareto Optimality; Competitive Equilibrium; Indifference Curve (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advchp:978-4-431-54535-4_7

Ordering information: This item can be ordered from
http://www.springer.com/9784431545354

DOI: 10.1007/978-4-431-54535-4_7

Access Statistics for this chapter

More chapters in Advances in Japanese Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().