Disequilibrium Foundations of Equilibrium Economics - Econometric Society Monographs (Paperback)Franklin M. Fisher (author)
Paperback 252 Pages / Published: 31/03/1989
- We can order this
The most common mode of analysis in economic theory is to assume equilibrium. Yet, without a proper theory of how economies behave in disequilibrium, there is no foundation for such a practice. The necessary step in proposing a foundation is the formulation of a theory of stability, and in this 1984 book, Professor Fisher is primarily concerned with this subject, although disequilibrium behavior itself is analyzed. The author first undertakes a review of the existing literature on the stability of general equilibrium. He then proposes a more satisfactory general model in which agents realize their state of disequilibrium and act on arbitrage opportunities. The interrelated topics of the role of money, the nature of quantity constraints, and the optimal behaviour of arbitraging agents are extensively treated.
Publisher: Cambridge University Press
Number of pages: 252
Weight: 380 g
Dimensions: 228 x 152 x 15 mm
You may also be interested in...
£54.99Mixed media product
Please sign in to write a review
Thank you for your reservation
Your order is now being processed and we have sent a confirmation email to you at
When will my order be ready to collect?
Call us on or send us an email at
Unfortunately there has been a problem with your order
Please try again or alternatively you can contact your chosen shop on or send us an email at