The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Offer Curve or Reciprocal Demand Curve

  • Harvey Gram
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1646

Abstract

The offer curve made its first appearance in Alfred Marshall’s Pure Theory of Foreign Trade (1879), a privately printed paper consisting of the second and third chapters (chosen by Henry Sidgwick) of a four chapter manuscript. Almost 50 years passed before Marshall’s analysis became generally available under his own name as Appendix J to Money, Credit and Commerce (1923). Thus, it was mainly through the writings of Edgeworth (1894) and others who had read Marshall’s original contribution (see Whitaker 1975, p. 114n), that the offer curve came to be known.

Keywords

Adjustment process Community indifference curves Continuity Convexity Duality Excess demand Excess supply External economies Homogeneous programming Income effects Increasing returns Marshall, A. Mill. J. S. Monotonicity Offer curve Reciprocal demand curve Recontracting Stability of equilibrium Substitution effects Tatonnement Trading curve Uniqueness of equilibrium Walras’s Law 

JEL Classifications

D0 
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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Harvey Gram
    • 1
  1. 1.