Theory of Value: An Axiomatic Analysis of Economic Equilibrium/ by Gerard Debreu
Language: English Publication details: Yale University Press, 1972. London:Description: 114 pISBN:- 9780300015591
- 330.155 DEB-T
Item type | Current library | Call number | Status | Barcode | |
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Library, SPAB | 330.155 DEB-T (Browse shelf(Opens below)) | Available | 011407 |
Introduction
The Commodity Space
Preferences and Utility Functions
Production and Production Sets
Market Equilibrium
The Existence of an Equilibrium
Pareto Optimality and Competitive Equilibria
Mathematical Appendix
Theory of Value by Gerard Debreu is a foundational work in mathematical economics that provides a rigorous, axiomatic framework for understanding economic equilibrium. The book systematically develops the theory of general equilibrium using advanced mathematical techniques, particularly set theory and topology.
Debreu formulates and proves the existence of equilibrium in a competitive market by defining individual preferences, production capabilities, and price mechanisms through a set of logical axioms. His work also explores the concepts of Pareto efficiency, market stability, and the role of convexity in economic decision-making.
This book is a landmark contribution to economic theory, shaping modern microeconomics and mathematical economics by offering a precise and abstract formulation of value and resource allocation in competitive markets.
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