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General Equilibrium Models

  • Asahi Noguchi

Abstract

Since the time of Leon Walras (1834–1910), describing the economy as systems of simultaneous equations has been a customary task of economists. They are broadly called general equilibrium models, though there are several variations among them. In this chapter we describe a method of obtaining numerical solutions of these models with Mathematica. In addition, we show how Mathematica can depict various aspects of these models graphically.

Keywords

Utility Function Production Function Production Factor Marginal Productivity Marginal Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

  1. Afriat, S. N. 1987. Logic of Choice and Economic Theory. Oxford, Clarendon Press.CrossRefGoogle Scholar
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  4. Katzner, D. W. 1989. The Walrasian Vision of the Microeconomy: an Elementary Exposition of the Structure of Modern General Equilibrium Theory. Ann Arbor, The University of Michigan Press.Google Scholar
  5. Noguchi, A. 1991 “The Two-Sector General Equilibrium Model: Numerical and Graphical Representations of an Economy,” The Mathematica Journal, Volume 1, Issue 3 Winter, 96–103MathSciNetGoogle Scholar

Copyright information

© Springer Science+Business Media New York 1993

Authors and Affiliations

  • Asahi Noguchi

There are no affiliations available

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