Abstract
A model in which a number of consumers demand a number of goods from a number of producers, and where the quantities of production factors are given, is called a general equilibrium model. Such a model allows the study of how production factors are allocated if the consumer’s aim is utility maximization and the producer’s aim is profit maximization.
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This chapter leans heavily on: Dietz F.J. (ed.), W.J.M. Heijman and E.P. Kroese, 1996. Micro-economie: aanvullingen en uitwerkingen, Aanvulling 7: Constructie van een algemeen evenwichtsmodel. Stenfert Kroese, Houten, the Netherlands.
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Note
Böhm-Bawerk E., 1921 (1889, 4th ed.). Kapital und Kapitalzins, Part II-1: Positive Theorie des Kapitales, and Part II-2: Exkurse. Gustav Fischer, Jena.
Walras M.L., 1926. Élécments d’économie politique pure: Édition Définitive. Pichon, Paris.
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Heijman, W.J.M. (1998). General Equilibrium Theory. In: The Economic Metabolism. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-5038-5_5
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DOI: https://doi.org/10.1007/978-94-011-5038-5_5
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