Abstract
The lecture will be an introduction to the model of economic equilibrium. The basic concepts: preferences, initial endowments and market clearing prices will discussed - in general and by means of examples. I will indicate how fixed point theorems are used to demonstrate the existence of equilibrium prices and sketch an algorithm for Brouwers theorem. If time permits, there will be some remarks on equilibrium models with production.
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© 2008 Springer-Verlag Berlin Heidelberg
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Scarf, H.E. (2008). The Elements of General Equilibrium Theory. In: Papadimitriou, C., Zhang, S. (eds) Internet and Network Economics. WINE 2008. Lecture Notes in Computer Science, vol 5385. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-92185-1_10
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DOI: https://doi.org/10.1007/978-3-540-92185-1_10
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-92184-4
Online ISBN: 978-3-540-92185-1
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