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Description - Walras's Market Models by Donald A. Walker

Walras's Market Models describes and evaluates Leon Walras' models of competitive markets. Through identification of his career phases and the associated general equilibrium models, which are shown to be very different in character, this book differs from previous examinations of his work. During his mature phase of theoretical activity, Walras was concerned with a competitive economy that passes through a phase of disequilibrium in the production and sales of commodities. While in his last phase of theoretical activity, he developed a model in which there is no production, sales, hiring, consuming or saving until an assumed set of equilibrium prices obtains of the model.

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Book Details

ISBN: 9780521562683
ISBN-10: 0521562686
Format: Hardback
(228mm x 152mm x 27mm)
Pages: 478
Imprint: Cambridge University Press
Publisher: Cambridge University Press
Publish Date: 28-Oct-1996
Country of Publication: United Kingdom

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