倫敦經(jīng)濟學(xué)院高微講義-一般均衡-文庫吧
2025-09-19 11:17 本頁面
【正文】 Ob x1a x2a Oa x1b R1b R1a R2a R2b Offers are only consistent where curves intersect But, by construction... This is the petitive equilibrium ? Satisfies materials balance E D equilibrium here endowment here Pricetaking utili ymaximising Bill endowment here equilibrium here Pricetaking utilitymaximising Alf ?But why petitive behaviour? ?Why should Alf and Bill behave that way? ?Where do the prices e from? Given petitive behaviour, the CE is the only consistent allocation subject to h h S pixi ? M i=1 U (x ) max n h h So where do the prices e from? ? We need a more general solution concept ? Then examine how pricetaking equilibrium relates to this. ? Let39。s develop the approach for the exchange economy, though it could apply to more interesting economies. A fresh approach General equilibrium Robinson Crusoe’s problem Decentrali sation and Trade A manyperson Economy Why pricetaking? Excess demand The solution concept Prices and the Core An exchange economy Why pricetaking? View the population... Q 2 Q 1 ...as n separate individuals Q 0 A coalition... The coalition concept gives us an important clue. ...is formed by any subgroup we39。ve got our endowments with us ? One day you take your bundle along to the swap shop... ? ...and some bossy person is there who proposes (insists on?) a particular feasible allocation. ? You and some others don39。
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