The Walrasian and Von Neumann Equilibria: A Comparison.

Abstract

YCECH-Los,Maria ;MRC-TSR-1399DA-31-124-ARO(D)-462*Economic models, Production, Equilibrium(General), Distribution, Consumers, Allocations, Theorems*Walrasian model, *Von Neumann model, PreferencesThe two economic concepts mentioned in the title deal with different features of an economy, the first with the distribution of produced goods between consumers according to their preferences, the second with the growth of the economy through 'production of commodities by means of commodities' (Sraffa), leaving the mechanism of consumption almost completely aside. It seems interesting that in spite of these differences many similarities between the models can be found and that the von Neumann model can be adjusted to account for the preferences of consumers. (Modified author abstract)

Document Details

Document Type
Technical Report
Publication Date
Jan 01, 1974
Accession Number
AD0774251

Entities

People

  • Jerzy Los
  • Maria Wycech-los

Organizations

  • University of Wisconsin–Madison

Tags

DTIC Thesaurus Topics

  • Abstracts
  • Chemical Reaction Properties
  • Commerce
  • Commodities
  • Consumers
  • Economic Analysis
  • Economic Models
  • Production

Fields of Study

  • Economics

Readers

  • Combustion Dynamics and Shock Wave Physics.
  • Industrial Economics
  • Systems Analysis and Design