## General Equilibrium Analysis: Studies in AppraisalA profound, innovative, and lively exploration of the nature of the theory at the very center of economics |

### Contents

A general equilibrium model | 3 |

Classroom interlude I | 12 |

Appraisal | 27 |

Classroom interlude II | 34 |

General equilibrium analysis a survey of appraisals | 43 |

Part II | 57 |

The existence of a competitive equilibrium 19301954 | 59 |

Appraising general equilibrium analysis | 108 |

### Common terms and phrases

activity actual agents allocation allow answer appeared appraisal approach argued argument Arrow associated assumed assumption belt called Chapter choice claim competitive equilibrium concept concern conjecture consider construction continuous convergence convex course Cowles Debreu defined demand developed discussion economic economists empirical equations equilibrium analysis equilibrium theory examine example existence fact falsifiable final functions further given growth hard core idea identified important individual initial interest interpretation issues knowledge Koopmans least limit mathematical McKenzie mean measure Morgenstern neo-Walrasian program Neumann noted optimization philosophers position predictions preferences present problem production progress proof propositions question reasoning Remark requires research program result scientific seems sense sequence simple structure Student suggested supply Teacher theorem thought trade unit utility vector von Neumann Wald