General equilibrium after Sonnenschein, Mantel and Debreu: Trends and perspectives

L'équilibre général depuis Sonnenschein, Mantel et Debreu: courants et perspectives

Jean-Sébastien Lenfant ()

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Abstract: Between 1972 and 1974, Sonnenschein, Mantel and Debreu (SMD) theorems would challenge the relevance of general equilibrium theory as a research program and opened a period of theoretical crisis. The aim of this article is to identify different trends of reactions towards SMD and to put them in a wider historical perspective. We identify four types of reaction and discuss their relevance as regards the initial research program.

Keywords: stability; general equilibrium theory; Sonnenschein; Mantel; Debreu; théorie de l'équilibre général; Scarf; Hildenbrand; stabilité (search for similar items in EconPapers)
Date: 2011
Note: View the original document on HAL open archive server: https://hal.science/hal-01742978
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Citations: View citations in EconPapers (2)

Published in Roberto Baranzini; André Legris; Ludovic Ragni Léon Walras et l’équilibre économique général – Recherches récentes, Economica, pp.263-289, 2011, 9782717858235

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01742978

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