倫敦經(jīng)濟(jì)學(xué)院高微講義-一般均衡(1)-資料下載頁(yè)
2024-10-18 11:16本頁(yè)面
【正文】 (R1b, R2b) resource endowment consumption utility ...Bill x1a R1a R2a x2a Oa Alf39。s optimisation problem Alf39。s budget constraint ? endowment point Bill39。s budget constraint x1b R1b R2b x2b Ob ? Bill39。s optimisation problem endowment point D x2a Oa x1a ? ? E equilibrium endowment The equilibrium of Alf x1b R1b R2b x2b Ob ? ? E equilibrium endowment D The equilibrium of Bill x1b R1b R2b x2b Ob ? ? E D Flipped... R1b R2b Ob x2b x1b ? ? E D Flipped... ...to give the Edgeworth Box D E x2b Ob x1b x2a Oa x1a R1a+R1b R2a+R2b The size of the Edgeworth Box D E x 1 a x 2 a x 2 b x 1 b O b O a endowment petition takes Alf amp。 Bill from here... ? E D x 1 a x 2 a x 2 b x 1 b O b O a equilibrium ...to here. ? E D x 1 a x 2 a x 2 b x 1 b O b O a Ines in the distribution match expenditures in the allocation The role of prices is central... ?The Crusoe equilibrium story translates to a manyperson economy. ?Role of prices in allocations and equilibrium is crucial. ?Equilibrium depends on distribution of endowments. ?Main features are in the model of Alf and Bill. ?But, why, why, why do these guys just accept the going prices...? ?…that’s for next time. Alf and Bill as a microcosm.
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