IDEAS home Printed from https://ideas.repec.org/h/pal/intecp/978-1-349-11029-2_27.html
   My bibliography  Save this book chapter

Comment

In: Value and Capital: Fifty Years Later

Author

Listed:
  • Darrell Duffie

    (Stanford University)

Abstract

Roy Radner’s (1972) notion of ‘equilibrium of plans, prices, and price expectations’, an extension of Arrow’s (1953) model of general equilibrium under uncertainty, is now the closest thing to a standard paradigm for intertemporal general equilibrium. I have heard a rumour that Radner recently voiced scepticism over his own notion of equilibrium. There is certainly some hint of that in his (1988) review of post-war developments of ‘Intertemporal General Equilibrium’. On the whole, however, his review has a balance of optimism and scepticism concerning developments of the theory since Hicks’s Value and Capital appeared. Radner’s perspective is well-informed and pragmatic. In this discussion of Chapter 15, I will highlight a few of his observations that I find most novel, and also add a few comments of my own.

Suggested Citation

  • Darrell Duffie, 1991. "Comment," International Economic Association Series, in: Lionel W. McKenzie & Stefano Zamagni (ed.), Value and Capital: Fifty Years Later, pages 461-468, Palgrave Macmillan.
  • Handle: RePEc:pal:intecp:978-1-349-11029-2_27
    DOI: 10.1007/978-1-349-11029-2_27
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:intecp:978-1-349-11029-2_27. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.