TY - JOUR
T1 - General equilibrium as competitive equilibrium
T2 - the significance of Walras' achievement from a Cournotian viewpoint
AU - Ferreira, Rodolphe dos Santos
AU - Ege, Ragip
PY - 2013/8
Y1 - 2013/8
N2 - Cournot's Recherches contains a sketch of the general equilibrium research programme, as well as the model of an exchange economy as a system verifying Walras' law. General equilibrium analysis had nonetheless to wait for Walras to occupy the centre of theoretical economics, since it was dismissed by Cournot for its lack of simplicity and robustness. We suggest these motives to depend upon his view of competition as a strategic interaction between producers. Correlatively, the way to the Walras' construct appears to pass through his own view of competition, with economic agents giving up by pure conduct their potential market power.
AB - Cournot's Recherches contains a sketch of the general equilibrium research programme, as well as the model of an exchange economy as a system verifying Walras' law. General equilibrium analysis had nonetheless to wait for Walras to occupy the centre of theoretical economics, since it was dismissed by Cournot for its lack of simplicity and robustness. We suggest these motives to depend upon his view of competition as a strategic interaction between producers. Correlatively, the way to the Walras' construct appears to pass through his own view of competition, with economic agents giving up by pure conduct their potential market power.
KW - Competition
KW - Cournot
KW - General equilibrium
KW - Walras
UR - http://www.scopus.com/inward/record.url?scp=84871221516&partnerID=8YFLogxK
U2 - 10.1080/09672567.2011.653884
DO - 10.1080/09672567.2011.653884
M3 - Article
AN - SCOPUS:84871221516
SN - 0967-2567
VL - 20
SP - 625
EP - 645
JO - European Journal of the History of Economic Thought
JF - European Journal of the History of Economic Thought
IS - 4
ER -