文档介绍：Classical General Equilibrium Theory
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Classical General Equilibrium Theory
Lionel W. McKenzie
The MIT Press
Cambridge, Massachusetts
London, England
( 2002 Massachusetts Institute of Technology
All rights reserved. No part of this book may be reproduced in any form by any electronic or
mechanical means (including photocopying, recording, or information storage and retrieval)
without permission in writing from the publisher.
This book was set in Times New Roman on 3B2 by Asco Typesetters, Hong Kong and was
printed and bound in the United States of America.
Library of Congress Cataloging-in-Publication Data
McKenzie, Lionel W.
Classical general equilibrium theory / Lionel W. McKenzie.
p. cm.
Includes bibliographical references and index.
ISBN 0-262-13413-6 (hc : alk. paper)
1. Equilibrium (Economics) 2. Equilibrium (Economics)—History. I. Title.
HB145 .M39 2002
—dc21 2002023017
To the memory of my beloved wife of 56 years,
Blanche Veron McKenzie,
without whose faithful support the work could not have been done
Contents
Preface xi
1 Theory of Demand 1
A Direct Approach to Demand Theory 1
Demand Theory without Transitivity 13
The Classical Theory 15
The Method of Revealed Preference 22
Market Demand Functions 25
Appendixes
A. Continuity of mxðpÞ 33
B. Negative Semidefiniteness of ½mijðpÞ 34
C. Euler’s Theorem for f ðpÞ 35
D. Quasi-linear Preferences 35
E. The Law of Demand and Risk Aversion 36
F. The Strong Axiom of Revealed Preference 38
G. Group Demand Functions 40
2Taˆtonnement Stability of Equilibrium 45
Excess Demand Functions 45
Market Equilibrium 50
Matrices with Quasi-dominant Diagonals 50
The Process of Taˆtonnement 52
Local Stability of the Taˆtonnement 54
Taˆtonnement with Expectations 64
An Economy of Firms 69
An Economy of Activities 77
Taˆtonnment with Trading 82
Global Stability