We show that production economies are tatonnement stable if consumers satisfy the weak axiom of revealed preference. To ensure that producer supply decisions are well defined, we restrict prices in the tatonnement so that positive profits cannot occur but do allow supply decisions to be...

Die neoklassische Allgemeine Gleichgewichtstheorie vom Malinvaud-Arrow-Debreu Typ und die von Sraffas "Warenproduktion mittels Waren" inspirierte klassische Theorie des allgemeinen Gleichgewichts der Produktion haben das gleiche Erkenntnisobjekt, nämlich eine auf Privateigentum, Konkurrenz und...

This paper reconsiders a recent criticism which contends that the theory of general intertemporal equilibrium, formulated by taking the physical endowments of capital goods as given, is not protected from the problem of capital at the centre of the two Cambridges debate of the 1960s. The author...