(1) At first, proofs of existence of an economic equilibrium
were uniformly obtained by application of a fixed-point theorem of the [L.
that existed at the outset of the contract.
The first, the General Economic Equilibrium
Model, is often referred to as von Neumann's 'Expanding Economic Model' (EEM).
The hypothesis, which is consistent with competitive pricing and product differentiation of the Big 6 audit firms under conditions of economic equilibrium
, implies that the market share of the Big 6 is more stable over time in the Hong Kong market than in the Australian market.
In Vienna, he also wrote two important articles dealing with time: "Das Zeitmoment in der Mathematishen Theories des Wirtsch Gleinch-gewihtes" (The Element of Time in the Mathematical Theory of Economic Equilibrium
) published in 1929, and "The Role of Time in Economic Theory" which was published in 1934 (a modified version of this article was also published in 1936).
"Anyone who can say `global economic equilibrium
' with a straight face should get an Oscar!" she laughs.
The existence of such general economic equilibrium
causes optimality, and hence, non-interaction occurs once again.
emerges, Epstein says, just as textbook market economics predicts.
Most theoretical work about economic equilibrium
, whether static or dynamic, has been directed at the general equilibrium model that is the heart of the system of neoclassical ideas, rather than the techniques of partial equilibrium (or constrained maximization) analysis that are more familiar in antitrust analysis.(54) But the tools of antitrust depend on ideas from general equilibrium models and so do not easily escape the practical and philosophical problems of general equilibrium theory.
In the long run it is in the interest of all to assist minority businesses as they seek to find economic equilibrium
. As these businesses prosper, they create jobs, contribute to the tax base and enhance the economic growth of the entire state of Arkansas.
was the administration's chief concern.
His premier achievement is Theory of Value: An Axiomatic Analysis of Economic Equilibrium
, whose surface message is that a competitive, "private ownership" economy has an equilibrium system of prices that harmonize the voluntary decisions of its consumers and producers so that no effective demand goes unsatisfied.