Economics Essays A Festschrift for Werner Hildenbrand

Back in the good old days on the fourth floor of the Altbau of Bonn's Ju­ ridicum, Werner Hildenbrand put an end to a debate about a festschrift in honor of an economist on the occasion of his turning 60 with a laconic: "Much too early." Remembering his p

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Springer-Verlag Berlin Heidelberg GmbH

Gerard Debreu ·Wilhelm Neuefeind Walter Trockel Editors

Economics Essays A Festschrift for WERNER HILDENBRAND With 33 Figures and 12 Tables

'Springer

Prof. Dr. Gerard Debreu University of California 549 Evans Hall # 3880 Berkeley CA 94720-3880 USA Prof. Dr. Wilhelm Neuefeind Washington University in St. Louis Department of Economics Box 1208 St. Louis, MO 63130 USA Prof. Dr. Walter Trockel Universităt Bielefeld Institut fur Mathematische Wirtschaftsforschung (IMW) Postfach 100131 33501 Bielefeld Germany

ISBN 978-3-642-07539-1 Library of Congress Cataloging-in-Publication Data applied for Die Deutsche Bibliothek - CIP-Einheitsaufnahme Economics Essays: A Festschrift for Werner Hildenbrand / Gerard Debreu .. . ed. ISBN 978-3-642-07539-1 ISBN 978-3-662-04623-4 (eBook) DOI 10.1007/978-3-662-04623-4

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Preface Back in the good old days on the fourth floor of the Altbau of Bonn's Juridicum, Werner Hildenbrand put an end to a debate about a festschrift in honor of an economist on the occasion of his turning 60 with a laconic: "Much too early. " Remembering his position five years ago , we did not dare to think about one for him. But now he has turned 65 . If consulted, he would most likely still answer: "Much too early." However, he has to take his official retirement, and we believe that this is the right moment for such an endeavor. No doubt Werner Hildenbrand will not really retire. As professor emeritus, free from the constraints of a rigid teaching schedule and the burden of committee meetings, he will be able to indulge his passions. We expect him to pursue, with undiminished enthusiasm, his research, travel, golfing, the arts , and culinary pleasures - escaping real retirement. He will leave a tremendous void at the university even if he will stay on and continue his scholarly pursuits in Bonn. He made the U