Robert P Gilles

(Author)

Economic Exchange and Social Organization: The Edgeworthian Foundations of General Equilibrium Theory (1996)Hardcover - 1996, 30 September 1996

Economic Exchange and Social Organization: The Edgeworthian Foundations of General Equilibrium Theory (1996)
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Part of Series
Theory and Decision Library C
Part of Series
Theory and Decision Library
Part of Series
Theory and Decision Library U
Print Length
312 pages
Language
English
Publisher
Springer
Date Published
30 Sep 1996
ISBN-10
0792342003
ISBN-13
9780792342007

Description

This book aims to develop an institutional approach to general economic equi- librium. Thus far, institutional economics has essentially been confined to purely verbal discourse. Here I argue the case that general equilibrium theory forms a well rounded basis for the development of an institutional economic the- ory. The fundamental economic trade mechanism underlying this refocusing is that of the Edgeworthian barter mechanism modelled through the equilibrium notion of the core of an economy. There is an extensive literature that links the core with the Walrasian price mechanism, which is explored in this book. Next I develop an alternative model of explicitly nonsovereign trade in the setting of an institutionally structured economy. In this book the core and several of its extensions are considered to be descriptions of the equilibrium allocations resulting from institutionalized barter processes, thereby providing a basis of an institutionally based economic theory. Traditionally finite economies have been assessed as the most natural represen- tations of real life economies, in particular of market economies. Many funda- mental insights have been developed. In the first half of the book I summarize the most influential and important results in the literature on finite economies regarding the relationship of the Walrasian model of a perfectly competitive market system and the Edgeworthian theory of individually based, pure barter processes. I use the axiomatic method as the main methodological framework according to which I construct my models.

Product Details

Author:
Robert P Gilles
Book Edition:
1996
Book Format:
Hardcover
Country of Origin:
US
Date Published:
30 September 1996
Dimensions:
23.39 x 15.6 x 1.91 cm
Genre:
British
ISBN-10:
0792342003
ISBN-13:
9780792342007
Language:
English
Location:
New York, NY
Pages:
312
Publisher:
Weight:
635.03 gm

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