Beaulier, Scott A.; Prychitko, David L. - In: The Journal of Economic Education 41 (2010) 1, pp. 54-62
The Edgeworth exchange diagram is a traditional tool of undergraduate microeconomic theory that depicts the mutually beneficial gains from voluntary trade. The authors take the analysis one step further. They identify the buyer's and seller's surpluses that accrue to both trading parties in the...