Accession Number:

AD0757100

Title:

General Economic Equilibrium: Purpose, Analytic Techniques, Collective Choice

Descriptive Note:

Technical rept.

Corporate Author:

HARVARD UNIV CAMBRIDGE MA

Personal Author(s):

• Arrow, Kenneth J.

Report Date:

1973-01-01

Pagination or Media Count:

54.0

Abstract:

The lecture is designed to survey modern development of the theory of general equilibrium in a competitive economy and its role in the allocation of resources. A survey is given of the state of the theory as developed by J.R. Hicks, P.A. Samuelson, and their predecessors as of about 1945, followed by an evaluation of the needs for further development. The differing general equilibrium tradition in the German-language literature is summarized.

Descriptors:

• *ECONOMICS
• COMMERCE
• DECISION MAKING
• EQUILIBRIUM(PHYSIOLOGY)
• FACTOR ANALYSIS
• MATHEMATICAL MODELS
• UNCERTAINTY

Subject Categories:

• Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE