This text refers to the Walras' views of what can be called the "implementation" of equilibrium, i.e the passage from the initial data of the economy to equilibrium prices (where the emphasis is put not on informational but rather, as in Walras on computational problems). After a brief...

The paper provides a brief review of existing results on the transmission of information through prices, when the revealing equilibria have to fit a criterion of "eductive stability". The work under review often suggests that, at odds with the "efficient market hypothesis", the plausibility of...

This working paper gathers two texts. The first one evokes the personality and work of Jules Dupuit, whose famous 1844's contribution is generally viewed as the founding piece of public cost benefit analysis. The second paper presents the content of the opening conference of the "Journ ées de...

This paper compares the most significant expectational stability criteria that have been used to assess the plausibility of perfect foresight trajectories in forward-looking dynamical systems: determinacy of trajectories, absence of neighbour sunspot trajectories, and convergence of "evolutive"...

We examine local strong rationality (LSR) in multivariate models with both forward-looking expectations and predetermined variables. Given hypothetical common knowledge restrictions that the dynamics will be close to those of a specified minimal state variable solution, we obtain eductive...

This paper provides a survey of results concerning "eductive stability" of equilibrium in an abstract 2-period exchange economy. "Eductive stability" is based on the Common Knowledge considerations underlying the work reported in the book "Assessing rational expectations: "eductive" stability in...

The paper considers a model with two goods: a private good and an "environmental" good. The analysis has two basic ingredients : the two goods are imperfectly substitutable and the long run characteristics of substitution are uncertain. An ecological discount rate is defined. It is argued that a...