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economics. Throughout history theories about the nature and consequences of interdependence have been the foundation of powerful … and conflicting philosophies. The modern theory of general equilibrium that emerged from a century-long controversy holds … that economies can be understood as a large system of simultaneous equilibrium equations. And, while the theory itself is …
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A demonstration of the existence of equilibrium prices for a general Walrasian model of competitive behavior necessarily makes use of some variant of Brouwer's fixed point theorem as an essential step. The strategy for calculating equilibrium prices is to render that step constructive by a...
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