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This 1991 book is a selection of Jacques Drèze's work over the last decade on the topics of lasting unemployment, stagflation and unused capacity. At the theoretical level, the author has contributed to the formulation and analysis of general equilibrium models which allow for p…
This 1991 book is a selection of Jacques Drèze's work over the last decade on the topics of lasting unemployment, stagflation and unused capacity. At the theoretical level, the author has contributed to the formulation and analysis of general equilibrium models which allow for p…
A selection of Jacques Dreze's work over the last decade on the topics of lasting unemployment, stagflation and unused capacity.
Intro -- Table of Contents -- Preface -- 1. Introduction -- 2. (Near- )Substitutes, Prices, and Stability -- 3. Vickrey Auctions and Substitution -- 4. Deferred-Acceptance Auctions and Near-Substitutes -- 5. Conclusion -- Notes -- References -- Index
Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of an invisible hand, which guides markets and renders regulation or interference…
Présentation de l'éditeur : "Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of an invisible hand, which guides markets and rende…
Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of an invisible hand, which guides markets and renders regulation or interference…
Traditional economic theory studies idealized markets in which prices alone can guide efficient allocation, with no need for central organization. Such models build from Adam Smith's famous concept of an invisible hand, which guides markets and renders regulation or interference…
While traditional price theory has successfully elucidated national income distribution in a perfectly competitive economy, little is known today about the overall working of a noncompetitive economy. This book moves to remedy the imbalance by sketching a general equilibrium the…