Walrasian Economics by Donald A. Walker

Walrasian Economics



Download Walrasian Economics




Walrasian Economics Donald A. Walker
Language: English
Page: 369
Format: pdf
ISBN: 0521858550, 9780521858557
Publisher: Cambridge University Press

In order to understand the various strands of general equilibrium theory, why it has taken the forms that it has since the time of Leon Walras, and to appreciate fully a view of the present state of general equilibrium theorizing, it is essential to understand Walras’s work and examine its influence. The first section of the book accordingly examines the foundations of Walras’s work. These include his philosophical and methodological approach to economic modeling, his views on human nature, and the basic components of his general equilibrium models. The second section examines how the influence of his ideas has been manifested in the theorizing of his successors, surveying the models of theorists such as H. L. Moore, Vilfredo Pareto, Knut Wicksell, Gustav Cassel, Abraham Wald, John von Neumann, J. R. Hicks, Kenneth Arrow, and Gerard Debreu. The treatment also examines recent models of many types in which Walras’s influence is explicitly acknowledged.

Book Description

The book explain the past history and present state of Walrasian general economic equilibrium theory, which incorporates most of microeconomic theory. The treatment examines the foundations of the legacy of Leon Walras, the originator of general equilibrium theory, and his influence as manifested in the work of his successors.

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