ID - 842568 TI - Disequilibrium foundations of equilibrium economics PY - 1983 VL - 6 SN - 0521242649 0521378567 1139052101 9780521242646 9781139052108 9780521378567 PB - Cambridge Cambridge University Press DB - UniCat KW - Economics KW - Equilibrium (Economics) KW - 330.1 KW - AA / International- internationaal KW - 330.01 KW - Disequilibrium (Economics) KW - Economic equilibrium KW - General equilibrium (Economics) KW - Partial equilibrium (Economics) KW - Stagnation (Economics) KW - Statics and dynamics (Social sciences) KW - Economische grondbegrippen. Algemene begrippen in de economie KW - Theorie van het economisch evenwicht. KW - Prijstheorie KW - Prijstheorie. KW - 330.1 Economische grondbegrippen. Algemene begrippen in de economie KW - DGE (Economics) KW - DSGE (Economics) KW - Dynamic stochastic general equilibrium (Economics) KW - SDGE (Economic theory) KW - Theorie van het economisch evenwicht KW - Business, Economy and Management UR - https://www.unicat.be/uniCat?func=search&query=sysid:842568 AB - The most common mode of analysis in economic theory is to assume equilibrium. Yet, without a proper theory of how economies behave in disequilibrium, there is no foundation for such a practice. The necessary step in proposing a foundation is the formulation of a theory of stability, and in this 1984 book, Professor Fisher is primarily concerned with this subject, although disequilibrium behavior itself is analyzed. The author first undertakes a review of the existing literature on the stability of general equilibrium. He then proposes a more satisfactory general model in which agents realize their state of disequilibrium and act on arbitrage opportunities. The interrelated topics of the role of money, the nature of quantity constraints, and the optimal behaviour of arbitraging agents are extensively treated. ER -