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Innovation, dynamic regions and regional dynamics: An introduction
Jönköping University, Jönköping International Business School, JIBS, Economics.
Jönköping University, Jönköping International Business School, JIBS, Economics.
London School of Economics.
George Mason University .
2009 (English)In: New directions in regional economic development / [ed] Charlie Karlsson, Åke E. Andersson, Paul C. Cheshire, Roger R. Stough, Berlin: Springer , 2009, p. 1-33Chapter in book (Other academic)
Abstract [en]

The development of economic theory after World War II has focused on clarifying the necessary and sufficient conditions for the existence of an idealized general equilibrium. Debreu (1956), Arrow and Hahn (1971), and Scarf and Hansen (1973) established these conditions, building on earlier attempts by Cassel (1917) and Wald (1933–34, 1934–35). A key assumption in the formulation and proofs of the existence of a general equilibrium of a competitive economy is a large (or even infinite) number of buyers and sellers (Aumann 1964), which ensures anonymous markets and mutual independence of agents. Another assumption is the convexity of preference and production technology sets (Uzawa 1962). A third assumption is flexible pricing of goods and production factors.

Place, publisher, year, edition, pages
Berlin: Springer , 2009. p. 1-33
Series
Advances in Spatial Science
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-5403DOI: 10.1007/978-3-642-01017-0_1ISBN: 978-3-642-01016-3 (print)OAI: oai:DiVA.org:hj-5403DiVA, id: diva2:36223
Available from: 2008-03-10 Created: 2008-03-10 Last updated: 2015-10-07Bibliographically approved

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Karlsson, CharlieAndersson, Åke E.

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