haku: @indexterm Budget / yhteensä: 273
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| Tekijä: | Kuga, K. |
| Otsikko: | Budget constraints of a firm and economic theory |
| Lehti: | Economic Theory
1996 : JUN, VOL. 8:1, p. 137-154 |
| Asiasana: | THEORIES ECONOMICS BUDGET |
| Kieli: | eng |
| Tiivistelmä: | Firms in reality are subject to budget constraints which general equilibrium theorists have paid little attention. Using Morishima (1950, 1992) model, this paper deals with firms that are subject to budgets pertaining to sales and investment decisions, and proves the existence of a general equilibrium. The author shows that an economy with firms subject to budgets does not necessarily satisfy the efficiency proposition, and clarify how the total profit maximum condition in the Arrow-Debrew (1954) type economy ensures an "efficiency" in a limited dynamic sense. |
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