Some Aspects of the Foundations of General Equilibrium Theory

The Posthumous Papers of Peter J. Kalman

  • Jerry Green
Conference proceedings

Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 159)

Table of contents

  1. Front Matter
    Pages I-V
  2. Graciela Chichilnisky, Peter J. Kalman
    Pages 61-76
  3. Peter J. Kalman, Kuan-Pin Lin
    Pages 115-129
  4. Peter J. Kalman, Kuan-Pin Lin, Hans Wiesmeth
    Pages 131-149
  5. Richard Dusansky, Peter J. Kalman
    Pages 151-167
  6. Back Matter
    Pages 169-172

About these proceedings

Introduction

In a wide number of economic problems the equilibrium values of the variables can be regarded as solutions of a parametrized constrained maximization problem. This occurs in static as well as dynamic models; in the latter case the choice variables are often paths in certain function spaces and thus can be regarded as points in infinite dimensional spaces. It is sometimes possible to determine qualitative properties of the solutions with respect to changes in the parameters of the model. The study of such properties is often called comparative statics; [15], [2], and [10]. Certain comparative static properties of the maxima have proven to be of particular importance for economic theory, since the works of Slutsky, Hicks, and Samuelson [15]: they have been for- lated in terms of synunetry and negative semidefiniteness of a matrix, called the Slutsky-Hicks-Samuelson matrix. A discussion of this matrix and its applications is given in Section 1. The study of these properties in economic theory, however, has so far been restricted to static models where the choice variable and the parameters are elements in Euclidean spaces, and where there is only one constraint.

Keywords

Gleichgewicht (Wirtsch.) agents economics equilibrium general equilibrium general equilibrium theory

Editors and affiliations

  • Jerry Green
    • 1
  1. 1.Department of EconomicsHarvard UniversityCambridgeUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-642-95331-6
  • Copyright Information Springer-Verlag Berlin Heidelberg 1978
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-540-08918-6
  • Online ISBN 978-3-642-95331-6
  • Series Print ISSN 0075-8442
  • About this book