(Paperback)

Can every allocation in the core of an economy be decentralized by a suitably chosen price system Werner Hildenbrand shows that the answer is yes if the economy has "many" participating agents and if the influence of every individual agent on collective actions is "negligible." To give a general and precise definition of economics with this proper

(Hardback)

(Hardback)

(Hardback)

(Paperback)

While traditional price theory has successfully elucidated national income distribution in a perfectly competitive economy, little is known today about the overall working of a noncompetitive economy. This book moves to remedy the imbalance by sketching a general equilibrium theory of a noncompetitive economy. Developing his theory in the world of

(Paperback)

One of the usual assumptions in economic theory is that an entity called a commodity can be measured or that the amount of it can be represented by any real number. The functions (or other types of mapping) with which the economist deals, such as production functions, demand curves, and cost functions are assumed to be defined for real number array