stephane verani (The University of Western Australia)
Abstract
In this short note, a broad analysis of the tatonnement in Leon Walras theory of General Equilibrium is conducted. The possible origin of the tatonnement in Walras's theory and the basic mechanics of this process are discussed. Using modern and conflicting interpretations of the Edgeworth-Walras debate it is shown that the tatonnement process is not part of a dynamic model.
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Paper provided by EconWPA in its series Economic History with number
0504001.
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