The highly mathematical nature of the Arrow-Debreu and other similar models of general equilibrium hide rather than elucidate the nature of equilibrium in a private property market economy where all factors of production may be purchased or rented.

David Ellerman's draft and published papers

July 15, 2020 by admin

The highly mathematical nature of the Arrow-Debreu and other similar models of general equilibrium hide rather than elucidate the nature of equilibrium in a private property market economy where all factors of production may be purchased or rented.

Filed Under: Main Blog, Property Theory Tagged With: Arrow-Debreu model, General equilibrium theory, neo-classical economics

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