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Frederick G Hay; Christine Oughton; Andrew S Skinner
|ISBN:||0719045819 9780719045813 0719045827 9780719045820|
|Beschreibung:||xiv, 305 p. : ill. ; 25 cm.|
|Inhalt:||Paretian analysis --
The Marshallian functions --
Equilibrium and the allocation of resources: perfect competition --
Monopoly and competition --
Oligopoly and game theory --
A re-orientation of the theory of value?
|Verfasserangabe:||Frederick G. Hay, Christine Oughton, and Andrew S. Skinner.|
Starting from a Paretian stand-point, the argument develops the logic of individual choice and its implications for interdependent consumers and producers, and reviews the efficiency conditions appropriate to a general equilibrium framework. This is then used to derive the corresponding Marshallian functions, allowing the conditions for a competitive equilibrium to be established. The argument proceeds to consider different market structures, establishing the relevance for the study of oligopoly of game theoretic approaches: a chapter is devoted entirely to game theory, including repeated games and theories of rational choice.
The book has several distinctive features: a stress on the interdependence between output and employment decisions; an explicit focus on E. H. Chamberlin's analysis of monopolistic competition; an unobtrusive historical dimension; parallel diagrammatic and mathematical treatments of optimisation; linkages with classical macroeconomics; and an emphasis on the implications of time and uncertainty.