Full Industry Equilibrium - pr_1735840

Full Industry Equilibrium

A Theory of the Industrial Long Run

By Arrigo Opocher, Ian Steedman

Trade Paperback

$68.20

Or 4 payments of $17.05 with

delivery message Free delivery for orders over $49.99

Add to Wish List
Delivered in 10 - 14 days
Available for Click and Collect
This highly original book develops a systematic zero-net-profit comparative statics theory of the firm that challenges many widely held views in microeconomics. It builds a bridge between the marginalist long-run theory of the firm and Sraffian theory to create a unified theoretical framework that explains how firms react to exogenous shocks resulting in new equilibrium positions of the whole economy. The central message of the book is that too often economists expect more from the microeconomic laws of input demand and output supply than they can really give. The authors show that the zero-net-profit condition requires a more articulated analysis that sometimes yields qualitative results contrary to those of familiar economic laws. Written for academic researchers and graduate students, the book will be of particular interest to those working on the microeconomics of industry equilibrium, comparative statics and Sraffian economics.

Product code: 9781107483835

ISBN 9781107483835
Publisher Cambridge University Press
No. Of Pages 231
Dimensions (HxWxD in mm) H229xW152xS10
Written for academic researchers and graduate students, this ambitious and highly original book shows how work from two disparate traditions, the marginalist long-run theory of the firm and Sraffian theory, can be used to build a framework that sheds new light on the microeconomics of industry equilibrium.