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An Inquiry Into the Causes and Nature of Walras' Theory of Tatonnement

Author

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  • 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.

Suggested Citation

  • stephane verani, 2005. "An Inquiry Into the Causes and Nature of Walras' Theory of Tatonnement," Economic History 0504001, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpeh:0504001
    Note: Type of Document - pdf; pages: 11
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/eh/papers/0504/0504001.pdf
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    References listed on IDEAS

    as
    1. Roberto Marchionatti, 2007. "On the application of mathematics to political economy'. The Edgeworth--Walras--Bortkievicz controversy, 1889--1891," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(2), pages 291-307, March.
    2. Pascal Bridel & Elisabeth Huck, 2002. "Yet another look at Leon Walras's theory of tatonnement," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(4), pages 513-540.
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    More about this item

    Keywords

    Leon Walras; tatonnement process; Edgeworth-­Walras debate;
    All these keywords.

    JEL classification:

    • N - Economic History

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