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An Introduction to the Economic Theory of Market Behavior

Author

Listed:
  • Donald W. Katzner

Abstract

The book provides substantial discussion of the model’s methodological background; returns to scale; the transformation surface and the fixed-factor-supply economy; existence, uniqueness, and stability of equilibria; the dynamics of market adjustments; methodological individualism and the theory of price determination; imperfectly competitive markets; welfare economics; and the role of money capital in the operation of the firm. The author suggests that the abandonment of general equilibrium theory by microeconomists is a mistake, and that it is too soon to give up on the possibility of constructing an adequate analysis of uniqueness, global stability, and price determination.

Suggested Citation

  • Donald W. Katzner, 2006. "An Introduction to the Economic Theory of Market Behavior," Books, Edward Elgar Publishing, number 3937.
    • Handle: RePEc:elg:eebook:3937
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    File URL: http://www.e-elgar.com/shop/isbn/9781845425104
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    Citations

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    Cited by:

    1. Donald Katzner, 2010. "The current non-status of general equilibrium theory," Review of Economic Design, Springer;Society for Economic Design, vol. 14(1), pages 203-219, March.
    2. Donald W. Katzner, 2016. "The Stages of Model Building in Economics," Studies in Microeconomics, , vol. 4(2), pages 79-99, December.
    3. Yahya Madra & Fikret Adaman, 2010. "Public economics after neoliberalism: a theoretical-historical perspective," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 17(4), pages 1079-1106.
    4. Donald W. Katzner, 2015. "A Neoclassical Curmudgeon Looks at Heterodox Criticisms of Microeconomics," World Economic Review, World Economics Association, vol. 2015(4), pages 1-63, February.
    5. George F. DeMartino, 2015. "Harming Irreparably: On Neoliberalism, Kaldor-Hicks, and the Paretian Guarantee," Review of Social Economy, Taylor & Francis Journals, vol. 73(4), pages 315-340, December.
    6. Fabio Petri, 2015. "Neglected Implications of Neoclassical Capital-Labour Substitution for Investment Theory: Another Criticism of Say's Law," Review of Political Economy, Taylor & Francis Journals, vol. 27(3), pages 308-340, July.
    7. Fabio Petri, 2013. "Neglected implications of neoclassical capital-labour substitution for investment theory:another criticism of Say's Law," Department of Economics University of Siena 687, Department of Economics, University of Siena.

    More about this item

    Keywords

    Economics and Finance;

    JEL classification:

    • L0 - Industrial Organization - - General
    • D0 - Microeconomics - - General

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