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Walrasian Economics (Paperback)
Loot Price: R1,158
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Walrasian Economics (Paperback)
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In order to understand the various strands of general equilibrium
theory, why it has taken the forms that it has since the time of
Leon Walras, and to appreciate fully a view of the state of general
equilibrium theorising, it is essential to understand Walras's work
and examine its influence. The first section of this 2006 book
accordingly examines the foundations of Walras's work. These
include his philosophical and methodological approach to economic
modelling, his views on human nature, and the basic components of
his general equilibrium models. The second section examines how the
influence of his ideas has been manifested in the theorising of his
successors, surveying the models of theorists such as H. L. Moore,
Vilfredo Pareto, Knut Wicksell, Gustav Cassel, Abraham Wald, John
von Neumann, J. R. Hicks, Kenneth Arrow, and Gerard Debreu. The
treatment also examines models of many types in which Walras's
influence is explicitly acknowledged.
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