IDEAS home Printed from https://ideas.repec.org/a/taf/eujhet/v29y2022i2p294-328.html
   My bibliography  Save this article

Substitutability and the quest for stability

Author

Listed:
  • Jean-Sébastien Lenfant

Abstract

The analysis of the stability of a Walrasian tâtonnement is a central chapter in the history of General Equilibrium Theory. The article aims to provide a historical reconstruction of this research program, starting with Hicks’ Value and Capital (1939). It departs from existing narratives by its focus on the concept of substitutability. It is argued that the concept combined various qualities that made it an element of positive heuristic in the research program. The article chronicles the collapse of this positive heuristic in the 1970s and reevaluates the role of Sonnenschein-Mantel-Debreu results.

Suggested Citation

  • Jean-Sébastien Lenfant, 2022. "Substitutability and the quest for stability," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 29(2), pages 294-328, March.
    • Handle: RePEc:taf:eujhet:v:29:y:2022:i:2:p:294-328
    DOI: 10.1080/09672567.2021.1987494
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/09672567.2021.1987494
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09672567.2021.1987494?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kirtchik, Olessia & Boldyrev, Ivan, 2024. "“Rise And Fall” Of The Walrasian Program In Economics: A Social And Intellectual Dynamics Of The General Equilibrium Theory," Journal of the History of Economic Thought, Cambridge University Press, vol. 46(1), pages 1-26, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:eujhet:v:29:y:2022:i:2:p:294-328. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/REJH20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.