General Equilibrium Foundation of Partial Equilibrium Analysis

• Main Author: Hayashi, Takashi (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Cham : Springer International Publishing : Imprint: Palgrave Macmillan, 2017.
• Subjects: Economic theory.; Microeconomics.; Education > Economic aspects.; Environmental economics.; Economics.; Education Economics.; Economic Theory/Quantitative Economics/Mathematical Methods.; Environmental Economics.

This book addresses the gaps in undergraduate teaching of partial equilibrium analysis, providing a general equilibrium viewpoint to illustrate the assumptions underlying partial equilibrium welfare analysis. It remains unexplained, at least at the level of general economics teaching, in what sense...

Table of Contents:

• Chapter 1: Introduction
• Chapter 2: General Equilibrium Theory
• Chapter 3: Income Evaluation of Welfare Change: Equivalent Variation, Compensating Variation and Consumer Surplus
• Chapter 4: The Assumption of No Income Effect and Quasi-linear Preferences
• Chapter 5: Is the approximation error large or small?
• Chapter 6: Small Income Effects
• Chapter 7: Partial Equilibrium Welfare Analysis under Uncertainty
• Chapter 8: Mechanism Design in Partial Equilibrium.