Economic Exchange and Social Organization: The Edgeworthian foundations of general equilibrium theory

This book aims to develop an institutional approach to general economic equi­ librium. Thus far, institutional economics has essentially been confined to purely verbal discourse. Here I argue the case that general equilibrium theory forms a well rounded basis for the development of an institutional economic theory. The fundamental economic trade mechanism underlying this refocusing is that of the Edgeworthian barter mechanism modelled through the equilibrium notion of the core of an economy...