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Methodology of economics --- Economics. --- Business & Economics --- Economic Theory --- Economic theory --- Political economy --- Social sciences --- Economic man
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This highly original book develops a systematic zero-net-profit comparative statics theory of the firm that challenges many widely held views in microeconomics. It builds a bridge between the marginalist long-run theory of the firm and Sraffian theory to create a unified theoretical framework that explains how firms react to exogenous shocks resulting in new equilibrium positions of the whole economy. The central message of the book is that too often economists expect more from the microeconomic laws of input demand and output supply than they can really give. The authors show that the zero-net-profit condition requires a more articulated analysis that sometimes yields qualitative results contrary to those of familiar economic laws. Written for academic researchers and graduate students, the book will be of particular interest to those working on the microeconomics of industry equilibrium, comparative statics and Sraffian economics.
Microeconomics --- Production (Economic theory) --- Managerial economics --- Microeconomics. --- Managerial economics.
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Economics --- Economics. --- Economic theory --- Political economy --- Social sciences --- Economic man
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Economics --- Economics. --- Economic theory --- Political economy --- Social sciences --- Economic man
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In a major work that is the culmination of over a decade of intensive research, Werner Hildenbrand presents a new theory of market demand, the principal aim of which is to identify the conditions under which the Law of Demand holds true. Hildenbrand argues that the Law of Demand is due mainly to the "heterogeneity" of the population of households. In his view, "rationality" of individual behavior plays only a minor role. While the traditional approach to the theory of market demand is to analyze the question, To what extent are the postulated properties of individual behavior preserved by going from individual to market demand?, this book asks the question, Which properties of the market demand function are created by the aggregation process?.Two hypotheses on the population of households play a key role in Hilden-brand's thinking. The first is the "increasing dispersion" and the second the "increasing spread" of households' demand. These hypotheses can easily be interpreted and are a priori plausible. For a positive theory of market demand, according to Hildenbrand, it is more important that the hypotheses are well supported by empirical evidence. His claims in this important new book are based on a nonparametric statistical data analysis of the U.K. Family Expenditure Survey and the French Enquête Budget de Famille.Originally published in 1994.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Microeconomics --- Demand (Economic theory) --- Mathematical models --- Households --- Mathematical models. --- Economic aspects --- Population --- Families --- Home economics --- Demand (Economic theory) - Mathematical models
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Economics --- economics --- business --- management --- Economics. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Business management --- Economic Theory
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Economics --- Research --- Research. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Economic Theory --- Economische theorie --- Économie politique --- Recherche
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This volume contains translations of articles originally written in Swedish and German and focus on money and price theory, population and Wicksell's book reviews including reviews of Leon Walras, Ludwig von Mises and John Bates Clark.
Economics --- Economic schools --- Economics -- Research. --- Economics. --- Money. --- Economic Theory --- Business & Economics --- Economic theory --- Political economy --- Social sciences --- Economic man --- E-books
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Business, Economy and Management --- Economics --- Economics. --- Economic theory --- Political economy --- Social sciences --- Economic man --- Wirtschaftswissenschaft. --- Theorie. --- Economic Theory --- Economics - Periodicals. --- Economia.
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