Abstract
One of Hugo’s most lasting lessons for me was the crucial importance when doing theory of getting the foundations straight and strong. The paper that follows, “An Equilibrium Model with Involuntary Unemployment at Flexible, Competitive Prices and Wages” (Roberts 1987b), is an attempt to be careful about foundations in the context of a model of a whole economy. It grew out of work that Hugo and I had done a decade earlier.
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References
John Roberts (1987a), “General Equilibrium Analysis of Imperfect Competition: An Illustrative Example,” in Arrow and the Ascent of Modem Economic Theory, G. Feiwel, ed., London: Macmillan and Co., and New York: State University of New York Press, 415–438.
John Roberts (1987b), “An Equilibrium Model with Involuntary Unemployment at Flexible, Competitive Prices and Wagos,” American Economic Review 77, 856–874.
John Roberts and Hugo Sonnenschein (1977), “On the Foundations of the Theory of Monopolistic Competition,” Econometrica 45, 101–113.
Hugo Sonnenschein (1973), “Do Walras’ Identity and Homogeneity Characterize the Class of Community Excess Demand Functions?” Journal of Economic Theory, 6, 345–354.
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Roberts, J. (2008). John Roberts on Hugo F. Sonnenschein. In: Jackson, M.O., McLennan, A. (eds) Foundations in Microeconomic Theory. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-74057-5_4
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