General Equilibrium in Competitive Exchange Economies

Takashi Hayashi ()
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Takashi Hayashi: University of Glasgow

Chapter Chapter 11 in Microeconomic Theory for the Social Sciences, 2021, pp 153-170 from Springer

Abstract: Abstract Having given apologies in Introduction, I will start talking about perfectly competitive and complete markets with complete information. I will do this with general equilibrium approach first, in which we look at all goods simultaneously and handle simultaneous determination of price and income. In the last chapter of this part I will talk about partial equilibrium approach, which isolates the market of a particular good from the rest of the economy by presuming that income does not matter (no income effect).General equilibrium Partial equilibrium

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-3541-0_11

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DOI: 10.1007/978-981-16-3541-0_11

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