{"title":"General Economic Equilibrium: Purpose, Analytic Techniques, Collective Choice","authors":"K. Arrow","doi":"10.21236/ad0757100","DOIUrl":null,"url":null,"abstract":"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.","PeriodicalId":142839,"journal":{"name":"Nobel Prize in Economics documents","volume":"87 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1972-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"225","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Nobel Prize in Economics documents","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.21236/ad0757100","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 225
Abstract
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.