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  • 标题:The Efficacy of the Invisible Hand in Simple Models
  • 本地全文:下载
  • 作者:Anjan Mukherji
  • 期刊名称:Contemporary Issues and Ideas in Social Sciences
  • 印刷版ISSN:1817-4604
  • 电子版ISSN:1817-4604
  • 出版年度:2008
  • 卷号:4
  • 期号:3
  • 语种:English
  • 出版社:Soc Rsch Soc Sci & Contig Disc
  • 摘要:The paper shows how specifying economic models enables us to obtain simpler forms of stability conditions. A general form of stability result obtained in Mukherji (2007) is applied to simple three good models with a single produced good, labour and a numeraire commodity; such models are routinely used in many contexts. In particular it is shown that restrictive assumptions need not be employed to ensure stability. Further the meaning of stability discussions and their significance and relevance are discussed.
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