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Psychologie individuelle et stabilité d'un équilibre général concurrentiel dans le Traité d'économie pure de Maurice Allais

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  • Jean-Sébastien Lenfant

Abstract

This article analyses Maurice Allais’s contribution to the study of the stability of a competitive equilibrium. In his Traité d’économie pure [1943], he demonstrates the local stability of a walrasian economy under a set of hypothesis tantamount to gross substitutability (Negishi [1962]). However, it would be unfair to reduce his contribution to this set of sufficient conditions. Allais’s purpose is much more ambitious, to the extent that he endeavours to ground stability on a set of introspectively appealing assumptions, built on a detailed and sophisticated theory of choice. He aims at conciliating the realism of assumptions and the logical rigor of the demonstration. In this article, we highlight the psychological foundations of general equilibrium analysis in Allais’s thought. Classification JEL : B21, B31.

Suggested Citation

  • Jean-Sébastien Lenfant, 2005. "Psychologie individuelle et stabilité d'un équilibre général concurrentiel dans le Traité d'économie pure de Maurice Allais," Revue économique, Presses de Sciences-Po, vol. 56(4), pages 855-888.
  • Handle: RePEc:cai:recosp:reco_564_0855
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    References listed on IDEAS

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    1. Weber, Christian E., 2000. "Two further empirical implications of Auspitz-Lieben-Edgeworth-Pareto complementarity," Economics Letters, Elsevier, vol. 67(3), pages 289-295, June.
    2. repec:adr:anecst:y:1989:i:14:p:02 is not listed on IDEAS
    3. Allais, Maurice, 1997. "An Outline of My Main Contributions to Economic Science," American Economic Review, American Economic Association, vol. 87(6), pages 3-12, December.
    4. F. A.v. Hayek, 1943. "The Geometrical Representation of Complementarity," Review of Economic Studies, Oxford University Press, vol. 10(2), pages 122-125.
    5. Dreze, Jacques H, 1989. " Maurice Allais and the French Marginalist School," Scandinavian Journal of Economics, Wiley Blackwell, vol. 91(1), pages 5-16.
    6. Chipman, John S., 1977. "An empirical implication of Auspitz-Lieben-Edgeworth-Pareto complementarity," Journal of Economic Theory, Elsevier, vol. 14(1), pages 228-231, February.
    7. Sonnenschein, Hugo, 1973. "Do Walras' identity and continuity characterize the class of community excess demand functions?," Journal of Economic Theory, Elsevier, vol. 6(4), pages 345-354, August.
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    Cited by:

    1. Alain Béraud, 2014. "Le développement de la théorie de l'équilibre général. Les apports d'Allais et de Hicks," Revue économique, Presses de Sciences-Po, vol. 65(1), pages 125-158.
    2. Richard Arena & Lauren Larrouy, 2015. "The Role of Psychology in Austrian Economics and Game Theory: Subjectivity and Coordination," GREDEG Working Papers 2015-15, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.

    More about this item

    JEL classification:

    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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