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General equilibrium after Sonnenschein, Mantel and Debreu: Trends and perspectives
[L'équilibre général depuis Sonnenschein, Mantel et Debreu : courants et perspectives]

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  • Jean-Sébastien Lenfant

    (CLERSÉ - Centre Lillois d’Études et de Recherches Sociologiques et Économiques - UMR 8019 - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

Abstract

Between 1972 and 1974, Sonnenschein, Mantel and Debreu (SMD) theorems would challenge the relevance of general equilibrium theory as a research program and opened a period of theoretical crisis. The aim of this article is to identify different trends of reactions towards SMD and to put them in a wider historical perspective. We identify four types of reaction and discuss their relevance as regards the initial research program.

Suggested Citation

  • Jean-Sébastien Lenfant, 2011. "General equilibrium after Sonnenschein, Mantel and Debreu: Trends and perspectives [L'équilibre général depuis Sonnenschein, Mantel et Debreu : courants et perspectives]," Post-Print hal-01742978, HAL.
    • Handle: RePEc:hal:journl:hal-01742978
    Note: View the original document on HAL open archive server: https://hal.science/hal-01742978
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    References listed on IDEAS

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    Cited by:

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    2. Richard Arena, 2019. "La théorie économique est-elle encore utile?," Working Papers halshs-02400823, HAL.

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