General Equilibrium Economics Space, Time and Money
A collection of published papers in general equilibrium that explore the basic problems of extensive interdependence in models incorporating oligopoly, space, time and money. Robert E. Kuenne has also written "The Theory of General Economic Equilibrium".
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Also by Robert E. Kuenne lHE lHEORY OF GENERAL ECONOMIC EQUILIBRIUM lHE ArrACK SUBMARINE: A Study in Strategy lHE POLARIS MISSILE STRIKE: A General Economic Systems Analysis MONOPOLISTIC COMPETITION lHEORY: Studies in Impact (editor) • MICROECONOMIC lHEORY OF lHE MARKET MECHANISM: A General Equilibrium Approach EUGEN von BORM-BAWERK RIVALROUS CONSONANCE: A Theory of General Oligopolistic Equilibrium WARRANTIES IN WEAPON SYSTEMS PROCUREMENT (with P. H. Richanbach, F. Ridell and R. Kaganoff) MICROECONOMIC lHEORY: Theoretical and Applied, Vols I, n, and m (editor) • DYNAMICS AND CONFLICT IN REGIONAL STRUCTURAL CHANGE (co-editor with Manas Chatterjl) • NEW FRONTIERS IN REGIONAL SCIENCE (co-editor with Manas Chatterjl) lHE ECONOMICS OF OLIGOPOLISTIC COMPETITION: Price and Non-Price Rivalry
* ALYo published by Macmillan
General EquilibriuIn Econontics Space, Time and Money
Robert E. Kuenne Professor of Economics Princeton University
M
MACMILLAN
© Robert E.
Kuenne 1992
Softcover reprint of the hardcover 1st edition 1992 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1P 9HE. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. First published 1992 by THE MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 2XS and London Companies and representatives throughout the world ISBN 978-1-349-12754-2 ISBN 978-1-349-12752-8 (eBook) DOI 10.1007/978-1-349-12752-8 A catalogue record for this book is available from the British Library
For my children Christopher Brian Kuenne Carolyn Kuenne Jeppsen
with loving memories of their childhoods, great pride in their adulthoods and thankful joy in their companionship
Contents Preface
ix
Acknowledgements
xi
Introduction
1
PART I GENERAL EQUILIBRIUM THEORY: THE ECONOMICS OF INTERDEPENDENCE 1 Walras, Leontief and the Interdependence of Economic Activities
21
2 The Architectonics of Leon Walras
56
3
On Hicks's Concept of Perfect Stability in Multiple Exchange
4 The Impact of Steel upon the Greater New York-Philadelphia Industrial Region
69 77
5 Employment Impacts of Achieving Automobile Efficiency Standards in the United States
104
6 General Equilibrium Analysis: Its Meaning, Purposes and Limitations
127
7 Oligopoly under Rivalrous Consonance: An Exploration of Phantom Objective Functions and some Algorithmic Considerations
172
8 The Rivalrous Consonance Framework for Oligopoly Analysis
191
PART II
SPATIAL INTERDEPENDENCE
9 An Efficient Algorithm for the Numerical Solution of the Generalized Weber Problem in Spatial Economics
vii
223
viii
Contents
10 Exact and Approxima
