Introduction into Capital Theory

A Neo-Austrian Perspective

  • Gunter Stephan

Table of contents

  1. Front Matter
    Pages I-X
  2. Introduction and Motivation

    1. Gunter Stephan
      Pages 1-15
  3. FINITE HORIZON ECONOMIES: The Pure Role of Time

    1. Front Matter
      Pages 17-17
    2. Gunter Stephan
      Pages 19-47
    3. Gunter Stephan
      Pages 49-77
  4. FINITE HORIZON ECONOMIES: Efficient Allocations and Prices

    1. Front Matter
      Pages 103-103
    2. Gunter Stephan
      Pages 119-143
    3. Gunter Stephan
      Pages 145-173
  5. INCOMPLETE MARKETS: Overlapping Generations and Computable General Equilibria

  6. Back Matter
    Pages 273-293

About this book


Capital theory is a cornerstone of modern economics. Its ideas are fundamental for dynamic equilibrium theory and its concepts are applied in many branches of economics like game theory, resource and environmental economics, although this may not be recognized on a first glance. In this monograph, an approach is presented, which allows to derive important results of capital theory in a coherent and readily accessible framework. A special emphasis is given on infinite horizon and overlapping generations economics. Irreversibility of time, or the failure of the market system appear in a different light if an infinite horizon framework is applied. To bridge the gap between pure and applied economic theory, the structure of our theoretical approach is integrated in a computable general equilibrium model.


Capital Theory Computable Equilibrium Models Equivalence Theory Intertemporal Models of an Economy Kapitaltheorie Overlapping Generations berechenbare Gleichgewichtsmodelle game theory interremporale Modelle einer Ökonomie Äquivalenztheorie über

Authors and affiliations

  • Gunter Stephan
    • 1
  1. 1.Volkswirtschaftliches Institut, Abt. Angewandte MirkoökonomieUniversität BernBernSwitzerland

Bibliographic information

  • DOI
  • Copyright Information Springer-Verlag Berlin Heidelberg 1995
  • Publisher Name Springer, Berlin, Heidelberg
  • eBook Packages Springer Book Archive
  • Print ISBN 978-3-642-08216-0
  • Online ISBN 978-3-662-03081-3
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking