4 found
Sort by:
  1.  24 DLs
    Michel de Vroey (1999). Equilibrium and Disequilibrium in Economic Theory: A Confrontation of the Classical, Marshallian and Walras-Hicksian Conceptions. Economics and Philosophy 15 (02):161-185.
    When the economic theory of the last decades becomes a subject of reflection for historians of economic theory, a striking feature which they will have to explain is the demise of the disequilibrium concept. Previously, economists had no qualms concerning the view that the market or the economy was exhibiting disequilibria. Amongst many possible quotations, the following, drawn from Viner's well-known article on Marshall, illustrates that:.
    Translate to English
    | Direct download (6 more)  
    My bibliography  
    Export citation  
  2.  8 DLs
    Michel De Vroey (2008). Equilibrium in Economics. Scope and Limits, Valeria Mosini (Ed). Routledge, 2007, XXIII + 284 Pages. [REVIEW] Economics and Philosophy 24 (2):271-275.
  3.  7 DLs
    Michel de Vroey (1990). The Base Camp Paradox: A Reflection on the Place of Tâtonnement in General Equilibrium Theory. Economics and Philosophy 6 (02):235-.
    A basic issue in political economy is the question of how a decentralized economy is possible: How can a system survive and, moreover, be efficient, if all decisions are taken independently, that is, without any explicit coordination? The issue has two sides to it. On the one hand, it is a “thought experiment,” falsifiable only on logical grounds, an object of debate for the sake of pure intellectual interest, even for people who might not live in a market economy. On (...)
    Direct download (6 more)  
    My bibliography  
    Export citation  
  4.  1 DLs
    Michel de Vroey (2003). Perfect Informationà laWalras Versus Perfect Informationà laMarshall. Journal of Economic Methodology 10 (4):465-492.
    In this paper I ponder upon the meaning of the perfect information assumption, and argue that a distinction should be drawn between the Walrasian and Marshallian conceptions of perfect information. I show that the Marshallian conception is more demanding than the Walrasian, due to the absence of the auctioneer figure. Next, I examine a few modern imperfect information models (Friedman's expectations?augmented Phillips Curve model, Lucas' neutrality of money model, Shapiro and Stiglitz' efficiency wage model) in order to assess whether the (...)
    Direct download (3 more)  
    My bibliography  
    Export citation