Equilibrium, Welfare and Uncertainty: Beyond Arrow-Debreu (Routledge Frontiers of Political Economy)

by Mukul Majumdar (Author)

• New

  Illustrated
  2009

  $151.13

  One of the fundamental themes in economic theory is the study of the role of prices in achieving an optimal allocation of resources in a competitive, decentralized economy. This book reviews the basic results on the elaboration of the Walras-Pareto theory (following the lead of Arrow and Debreu) in the context of a static economy with many agents.