General Equilibrium Theory

Booknews

Contains 98 reprinted articles, dating from 1941 to 1989. An introduction traces the research efforts of several generations of leading economists to answer why social chaos does not result when a multitude of agents, whose decisions are dictated by self-interest, produce, exchange, and consume a large number of commodities in an economy. Topics include incomplete markets, temporary equilibrium, non-convexity in production, fix-price models, rational expectations, overlapping generations, capital accumulation, optimal growth, sunspot equilibria, public goods, asymmetric information, market games, the theory of finance, infinite dimensional commodity spaces, differentiated commodities, and the new differentiate theory of GE. No index. Annotation c. by Book News, Inc., Portland, Or.