Titlebook: Economic Evolution and Equilibrium; Bridging the Gap Marco Lehmann-Waffenschmidt Book 2007 Springer-Verlag Berlin Heidelberg 2007 Bang-bang

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Evolutions in a General Equilibrium Framework With Production, Taxes, and Subsidies p. 315). Actually, for the purposes of our study this framework has still a further remarkable advantage: it contains parameters which in principle can be controlled by an economic policy institution. This will become important for our later applications in Chapter 19.

矛盾

Conclusionsformal principle as continuous one-parametrizations, or say one-parameter families, of economies. It has been emphasized that in the study . of states that satisfy our assumptions, not only evolutions of an economic system ongoing over historical time, have been admitted.

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,Funktionsüberwachung und Ertragskontrolle,s-Colell (1985) has independently shown this result for the basic set-up of a large exchange economy. In addition, we have given a sufficient algebraic criterion for identifying points on equilibrium paths for any given evolution. Both results heavily rely on results from one-parametrized algebraic fixed-point theory.

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Conclusionss-Colell (1985) has independently shown this result for the basic set-up of a large exchange economy. In addition, we have given a sufficient algebraic criterion for identifying points on equilibrium paths for any given evolution. Both results heavily rely on results from one-parametrized algebraic fixed-point theory.

Aphorism

https://doi.org/10.1007/978-1-4302-0731-3 difference, or differential, equations. There equilibria mean ‘equilibrium trajectories’ of the whole evolution that, in a certain sense, are optimal. A particularly unsatisfactory feature of this conceptualization of an equilibrium, however, is the fact that the intertemporal optimizing approach c

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Book 2007t are unforeseeable by their very nature. This view clearly makes obsolete any conception of equilibrium that resorts to the idea of a ?nal state of rest, or to the idea of an intertemporally optimizing trajectory which is prespeci?ed ab initio by a system of di?erential equations and initial con- t

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General Introduction difference, or differential, equations. There equilibria mean ‘equilibrium trajectories’ of the whole evolution that, in a certain sense, are optimal. A particularly unsatisfactory feature of this conceptualization of an equilibrium, however, is the fact that the intertemporal optimizing approach c