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1、Availableonlineatwww.sciencedirect.comJournalofEconomicTheory147(2012)400406www.elsevier.com/locate/jetIntroductiontogeneralequilibriumYvesBalaskoa,∗,JohnGeanakoplosb,caDepartmentofEconomicsandRelatedStudies,UniversityofYork,UKbYaleUniversity,NewHaven,CT,UnitedStatescSantaFeInstitute,SantaFe,NM,Un
2、itedStatesReceived18September2011;finalversionreceived3October2011;accepted20January2012Availableonline30January2012AbstractThisintroducesthesymposiumongeneralequilibrium.©2012ElsevierInc.Allrightsreserved.JELclassification:C62;C63;D04;D51;D52;D53;D58;D61;E32;E44;E58Keywords:Default;Efficiency;Equili
3、brium;Existence;Incompletemarkets;Leverage;Overlapping-generationsmodel;Publicgoods;Regularequilibria;Sunspotequilibria1.AshortandincompleteperspectiveAgoalinthissymposiumistoofferasnapshotofsomeofthebestresearchcurrentlygoingoninthetheoryofgeneralequilibrium.Themostactiveresearchthemesinthisfieldc
4、anbetracedbacktoarathersmallnumberofinfluentialsources.Thefollowingisneitheradetailedlistingnoranexhaustiveaccountoftheresearchingeneralequilibriumtheoryduringthepastonehundredyears,agoalthatwouldbefarbeyondthescopeofthisshortessay.Theroleofourshortandnecessarilyincompletehistoricalreferencesistoof
5、fersomeperspectiveontheresearchpapersinthesymposium.Thebookandpaperswehavehighlightedare:(1)The1951articlesofArrow[2]andDebreu[18],inwhichequilibriumisshowntobeParetoefficientthefirsttheoremofwelfareeconomics;(2)The1954articlesbyArrowandDebreu[5]andMcKen-zie[32],wheretheexistenceofanequilibriumispro
6、vedbyafixed-pointargument;(3)Debreusmonograph[19],whichappliestothegeneralequilibriummodelofWalras[37]theaxiomatic*Correspondingauthor.E-mailaddresses:yves.balasko@york.ac.uk(Y.Balasko),john.geanakoplos@yale.edu(J.Geanakoplos).0022-0531/$seefrontmatter©2012ElsevierInc.Allrightsreserved.doi:10.1016/
7、j.jet.2012.01.022Y.Balasko,J.Geanakoplos/JournalofEconomicTheory147(2012)400–406401approachadvocatedinthetreatiseofNicolasBourbaki[13]seeinparticularthepartonModedemploidecetraité;(4)TheformulationinArrow[3,4]ofa
