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An Inquiry Into the Causes and Nature of Walras' Theory of Tatonnement

Stephane Verani
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Stephane Verani: The University of Western Australia

Economic History from University Library of Munich, Germany

Abstract: In this short note, a broad analysis of the tatonnement in Leon Walras theory of General Equilibrium is conducted. The possible origin of the tatonnement in Walras's theory and the basic mechanics of this process are discussed. Using modern and conflicting interpretations of the Edgeworth-­Walras debate it is shown that the tatonnement process is not part of a dynamic model.

Keywords: Leon Walras; tatonnement process; Edgeworth-­Walras debate (search for similar items in EconPapers)
JEL-codes: N (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hpe
Date: 2005-04-05
Note: Type of Document - pdf; pages: 11
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