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| Tekijä: | De Vroey, M. |
| Otsikko: | Is the tatonnement hypothesis a good caricature of market forces? |
| Lehti: | Journal of Economic Methodology
1998 : DEC, VOL. 5:2, p. 201-222 |
| Asiasana: | METHODOLOGY ECONOMICS MARKETS |
| Kieli: | eng |
| Tiivistelmä: | Three points are made in this article. First, it is argued that general equilibrium theory should not be limited to the issues of existence and stability. A third subject-matter should be put on the agenda, namely the organization of trade. Tatonnement should be seen as the specific assumption made in this respect within the Walrasian research programme. Second, it is argued that the tatonnement set-up, though a quite complete institutional arrangement, turns our to be a contrived construction, as it combines basically incompatible elements -- planning and private ownership. |
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