Book contents
- Frontmatter
- Contents
- List of illustrations
- Introduction to the second edition
- Preface to the second edition
- Preface to the first edition
- Table of notation
- Table of assumptions
- A General equilibrium theory: Getting acquainted
- B Mathematics
- C An economy with bounded production technology and supply and demand functions
- D An economy with unbounded production technology and supply and demand functions
- E Welfare economics and the scope of markets
- F Bargaining and equilibrium: The core
- G An economy with supply and demand correspondences
- H Standing on the shoulders of giants
- Bibliography
- Index
Preface to the second edition
Published online by Cambridge University Press: 05 June 2012
- Frontmatter
- Contents
- List of illustrations
- Introduction to the second edition
- Preface to the second edition
- Preface to the first edition
- Table of notation
- Table of assumptions
- A General equilibrium theory: Getting acquainted
- B Mathematics
- C An economy with bounded production technology and supply and demand functions
- D An economy with unbounded production technology and supply and demand functions
- E Welfare economics and the scope of markets
- F Bargaining and equilibrium: The core
- G An economy with supply and demand correspondences
- H Standing on the shoulders of giants
- Bibliography
- Index
Summary
Like the first edition of this work, the second edition begins with a celebration. In 2005 at the University of California at Berkeley there was an enthusiastic conference celebrating the life and work of our late colleague Gerard Debreu. Professors, researchers, and students gathered literally from all over the world. For three days and nights, papers were presented, reminiscences shared, testimonials and tributes spoken. Gerard Debreu – half of the Arrow-Debreu team – had reshaped our field and created the specialty we loved. Prof. Hugo Sonnenschein remarked:
The Arrow-Debreu model, as communicated in Theory of Value changed basic thinking, and it quickly became the standard model of price theory. It is the “benchmark” model … it was no longer “as it is” in Marshall, Hicks, and Samuelson; rather it became “as it is” in Theory of Value.
That's why the present volume appeared: to make Theory of Value more easily accessible to a wide audience, because the Arrow-Debreu model is the standard of the field. We who work the field should understand it well.
For the past decade, students and colleagues have remarked on the first edition of this book: appreciating, criticizing, suggesting revisions and corrections.
It is a pleasure to acknowledge two distinctive contributions. Colleagues at the University of Copenhagen have been extraordinarily helpful. Professor Peter Sørensen and the late Professor Birgit Grodal both went over the entire volume, making immensely useful suggestions and corrections.
- Type
- Chapter
- Information
- General Equilibrium TheoryAn Introduction, pp. xxi - xxiiPublisher: Cambridge University PressPrint publication year: 2011