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Static and dynamic market disequilibrium

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  • Juli Radev
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    Abstract

    The static and dynamic market disequilibrium are presented as follows: the Edgeworth box is discussed in order to demonstrate the advantage of the role of negotiations on the market to the tatonnament role in the Walrasian static equilibrium model. In this context the equilibrium method devised by Marshall is an acceptable solution of the Edgeworth ambiguity. The idea of the static disbalance of Edgeworth is substantiated. This concept is projected in the dynamic perception of the Walras-X. The comment is summed up.

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    Bibliographic Info

    Article provided by Bulgarian Academy of Sciences - Economic Research Institute in its journal Economic Thought.

    Volume (Year): (2011)
    Issue (Month): 2 ()
    Pages: 36-63

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    Handle: RePEc:bas:econth:y:2011:i:2:p:36-63

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    1. Brian Snowdon & Howard Vane, 1998. "Transforming macroeconomics: an interview with Robert E. Lucas Jr," Journal of Economic Methodology, Taylor & Francis Journals, vol. 5(1), pages 115-146.
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