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Léon Walras's General Economic Equilibrium Models of Capital Formation : Existence of a Solution

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  • Jan van Daal

Abstract

[fre] Les modèles d'équilibre économique général de la formation de capital de Léon Walras : l'existence d'une solution. . Le sujet principal de cet article est la cohérence du modèle d'équilibre économique général de la formation de capital de Léon Walras. Après quelques remarques générales, un exposé bref de ce modèle est présenté. Ensuite, l'existence d'une solution du modèle est démontrée et discutée pour le cas où quelques équations ont été transformées en inégalités (comme l'a fait M. Morishima) ainsi que pour le cas original de Léon Walras, où toutes les relations sont des équations. L'idée de ces démonstrations trouve son origine chez Morishima. Les suppositions qui doivent être faites passeront en revue. Dans l'Annexe, l'existence d'une solution des autres modèles d'équilibre économique général a été discutée brièvement. [eng] Leon Walras's General Economic Equilibrium Models of Capital Formation. Existence of a Solution. . The main subject of this paper is the coherence of Leon Walras's general economic equilibrium model of capital formation. First, some general remarks are made and a short exposition of the model is presented. Then proofs follow for a case in which some of the equations have been replaced by inequalities as well as for the case of the original version, with equations only; the proofs have been inspired by a proof of Morishima. Attention has been devoted to the assumptions underlying the proofs. The existence of solutions for Walras's other general economic equilibrium models is shortly dealt with in the Appendix to this paper.

Suggested Citation

  • Jan van Daal, 1998. "Léon Walras's General Economic Equilibrium Models of Capital Formation : Existence of a Solution," Revue Économique, Programme National Persée, vol. 49(5), pages 1175-1198.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1998_num_49_5_410038
    DOI: 10.3406/reco.1998.410038
    Note: DOI:10.3406/reco.1998.410038
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    1. J. v. Neumann, 1945. "A Model of General Economic Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 13(1), pages 1-9.
    2. Weintraub, E Roy, 1983. "On the Existence of a Competitive Equilibrium: 1930-1954," Journal of Economic Literature, American Economic Association, vol. 21(1), pages 1-39, March.
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