The purpose and problems for equilibrium models -- Equilibrium models and explanation -- Equilibrium attainment vs. equilibrium necessities -- Does general equilibrium attainment imply universal maximization? -- Time and knowledge matters : general equilibrium attainment -- Equilibrium concepts and critiques : two cultures -- The limits of equilibrium models -- Recognizing knowledge in equilibrium models -- Limits of equilibrium methodology an educational dialogue -- Equilibrium models vs. realistic understanding -- Macroeconomic equilibrium model building and the stability problem -- Equilibrium models intended to overcome limits -- Equilibrium models vs. evolutionary economic models -- Equilibrium models vs. complexity economics -- Building models of price dynamics -- Building models of non-clearing markets -- Building models of learning and the equilibrium process -- Bibliography -- Names index -- Subject index Read more...
Abstract:
The concept of equilibrium is fundamental to economic theory, according to which, it exists when supply and demand are balanced. Equilibrium Models in Economics critically examines the major problematic assumptions employed to build equilibrium models. It gives particular attention to the assumptions used to characterize learning, knowledge and expectations. Read more...
Author(s): Boland, Lawrence A
Publisher: Oxford University Press
Year: 2017
Language: English
Pages: 264
Tags: Equilibrium (Economics);Econometric models.;Econometric models;Gleichgewichtsmodell;Wirtschaftstheorie;Theorie
Content: ContentsPrefacePart I: The purpose and problems for equilibrium modelsChapter 1. Equilibrium models and explanationChapter 2. Equilibrium attainment vs. equilibrium necessitiesChapter 3. Does general equilibrium attainment imply universal maximization? Chapter 4. Time and knowledge matters: General equilibrium attainment. Chapter 5. Equilibrium concepts and critiques: two cultures. Part II: The limits of equilibrium modelsChapter 6. Recognizing knowledge in equilibrium models. Chapter 7. Limits of equilibrium methodology: An educational dialogue. Chapter 8. Equilibrium models vs. realistic understanding. Chapter 9. Macroeconomic equilibrium model building and the stability problem Chapter 10. Equilibrium models intended to overcome limits. Chapter 11. Equilibrium models vs. evolutionary economic models Chapter 12. Equilibrium models vs. complexity economics Part III: Avenues for overcoming the limits equilibrium models:Chapter 13. Building models of price dynamicsChapter 14. Building models of non-clearing marketsChapter 15. Building models of learning and the equilibrium processEpilogue: Prospects for changing equilibrium model building practice in economicsBibliographyNames IndexSubject Index
