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Complete Markets of Arrow and Debreu and the Dynamic Disequilibrium

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  • Yuli Radev

Abstract

This article discusses the two main models of complete markets, the criticism to them that form the early Arrow-Debreu theory, as well as the supplements and the shortcomings of the so-called revised version of the theory. We underline the most important consequences from this theory and present generalized comments.

Suggested Citation

  • Yuli Radev, 2012. "Complete Markets of Arrow and Debreu and the Dynamic Disequilibrium," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 35-56,57-75.
    • Handle: RePEc:bas:econth:y:2012:i:2:p:35-56,57-75
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    Cited by:

    1. Mario G.R. Pagliacci & Ion Partachi & Georgiana Nitu & Alexandru Badiu, 2016. "Setting the market price," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 64(4), pages 48-50, April.

    More about this item

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles

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