The aim of this paper is to provide an outline of the development of the theory of exchange, concentrating on the less well-known development of the formal model which culminated in the contribution of Edgeworth. The importance of exchange, viewed as the central economic problem for the early neoclassical economists, is stressed. Instead of taking a chronological approach, non-utility approaches are first discussed.
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Length: 45 pages Date of creation: 1998 Date of revision: Handle: RePEc:mlb:wpaper:605
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Find related papers by JEL classification: B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (includes Austrian, Marshallian, Walrasian) B31 - Schools of Economic Thought and Methodology - - History of Thought: Individuals - - - Individuals F11 - International Economics - - Trade - - - Neoclassical Models of Trade