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Negishi's Theorem and Method

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  • K.Vela Velupillai

Abstract

Takashi Negishi's remarkable youthful contribution to welfare economics, general equilibrium theory and, with the benefit of hindsight, also to one strand of computable general equilibrium theory, all within the span of six pages in one article, has become one of the modern classics of general equilibrium theory and mathematical economics. Negishi's celebrated theorem and what has been called Negishi's Method have formed one foundation for computable general equilibrium theory. In this paper I investigate the computable and constructive aspects of the theorem and the method

Suggested Citation

  • K.Vela Velupillai, 2011. "Negishi's Theorem and Method," ASSRU Discussion Papers 1129, ASSRU - Algorithmic Social Science Research Unit.
    • Handle: RePEc:trn:utwpas:1129
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    References listed on IDEAS

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    1. Luenberger David G., 1994. "Optimality and the Theory of Value," Journal of Economic Theory, Elsevier, vol. 63(2), pages 147-169, August.
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    3. Takashi Negishi, 2008. "Unnoticed predecessors of the early Negishi theorems," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(2), pages 167-173, June.
    4. K. Vela Velupillai, 2011. "Towards An Algorithmic Revolution In Economic Theory," Journal of Economic Surveys, Wiley Blackwell, vol. 25(3), pages 401-430, July.
    5. Scarf, Herbert E., 1993. "The computation of equilibrium prices: An exposition," Handbook of Mathematical Economics, in: K. J. Arrow & M.D. Intriligator (ed.), Handbook of Mathematical Economics, edition 4, volume 2, chapter 21, pages 1007-1061, Elsevier.
    6. Shoven,John B. & Whalley,John, 1992. "Applying General Equilibrium," Cambridge Books, Cambridge University Press, number 9780521266550, November.
    7. Takashi Negishi, 1961. "Monopolistic Competition and General Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 28(3), pages 196-201.
    8. Warren Young, 2008. "Negishi's contributions to the development of economic analysis: Research programs and outcomes," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(2), pages 151-165, June.
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    10. K. Vela Velupillai, 2008. "Uncomputability and Undecidability in Economic Theory," Department of Economics Working Papers 0806, Department of Economics, University of Trento, Italia.
    11. J. v. Neumann, 1945. "A Model of General Economic Equilibrium," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 13(1), pages 1-9.
    12. Takashi Negishi, 1994. "general equilibrium theory," Books, Edward Elgar Publishing, number 331.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Computable General Equilibrium; Fundamental Theorems of Welfare Economics; Negishi's Method;
    All these keywords.

    JEL classification:

    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • D60 - Microeconomics - - Welfare Economics - - - General

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