Titlebook: Economic Evolution and Equilibrium; Bridging the Gap Marco Lehmann-Waffenschmidt Book 2007 Springer-Verlag Berlin Heidelberg 2007 Bang-bang

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Evolutions in an Exchange Equilibrium Framework Without Walras’ Law and Homogeneityof homogeneity of degree zero of the excess demand function. To begin with the purely economic aspects, Walras’ law and the homogeneity property of the excess demand function clearly do not make sense anymore when one studies . of all conceivable markets, thus placing oneself in a . (cf. Schulz, 198

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Conclusionsg nine models of general equilibrium, which we have called ‘basic models’, or ‘basic set-ups’. Some of them have been adopted from the literature (Chapters 4 and 6), while the others are new (Chapters 5 and 7). Thus the basic models have not been introduced as an end in themselves, but as basic set-

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Economic Refinements of the Notion of an Evolution of Economiest interpretations of our notion of an evolution of economies possible. On the one hand one may emphasize the .. This means one puts oneself in a position of an observer who at any point of the evolution parameter interval . ε [0, 1] only knows the current state and the preceding states of the evolut