Landmark Papers in General Equilibrium Theory, Social Choice and Welfare

Landmark Papers in General Equilibrium Theory, Social Choice and Welfare

by Kenneth J. Arrow

ISBN-10: 1840645695

ISBN-13: 9781840645699

Pub. Date: 02/01/2002

Publisher: Elgar, Edward Publishing, Inc.

Product Details

Elgar, Edward Publishing, Inc.
Publication date:
Foundations of Twentieth Century Economi
Product dimensions:
6.88(w) x 9.50(h) x (d)

Table of Contents

1The Traditional Setting of the Pricing Problem, Perfect Foresight and Stationary Conditions3
2Uber die Produktionsgleichungen der Okonomischen Wertlehre117
3On Some Systems of Equations of Mathematical Economics119
4A Model of General Economic Equilibrium155
5Equilibrium Points in N-Person Games164
6The Role of Securities in the Optimal Allocation of Risk-bearing165
7On Equilibrium in Graham's Model of World Trade and Other Competitive Systems171
8Existence of an Equilibrium for a Competitive Economy186
9Some Examples of Global Instability of the Competitive Equilibrium212
10An Analysis of Markets with a Large Number of Participants228
11A Limit Theorem on the Core of an Economy257
12Markets with a Continuum of Traders269
13On the Computation of Equilibrium Prices281
14Competitive Equilibrium Under Uncertainty305
15Economies with a Finite Set of Equilibria333
16Market Excess Demand Functions339
17Information and Competitive Price Systems354
18A Characterization of the Optimality of Equilibrium in Incomplete Markets362
19On the "Law of Demand"377
20Equilibrium in Incomplete Markets I: A Basic Model of Generic Existence400
21Equilibrium in Incomplete Markets II: Generic Existence in Stochastic Economies416
22Real Indeterminacy with Financial Assets434
23The General Welfare in Relation to Problems of Taxation and of Railway and Utility Rates453
24A Reformulation of Certain Aspects of Welfare Economics481
25Welfare Propositions of Economics and Interpersonal Comparisons of Utility506
26An Extension of the Basic Theorems of Classical Welfare Economics510
27Two Concepts of External Economies536
28The Interpretation of Voting in the Allocation of Economics Resources547
29On the Rationale of Group Decision-making569
30Necessary and Sufficient Conditions for Rational Choice under Majority Decision581
31The Optimal Production of Social Justice606
32Discussion of Mr. Kolm's Paper650
33The Impossibility of a Paretian Liberal654
34Impossibility Theorems without Collective Rationality660
35Equity, Arrow's Conditions, and Rawls679
36Possibility Theorems with Interpersonally Comparable Welfare Levels691
Name Index703

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