Pricing and Equilibrium

by Schneider,Erich

• ISBN13: 9780415313193
• ISBN10: 0415313198
• Edition: 1st
• Format: Hardcover
• Copyright: 2003-09-24
• Publisher: Routledge

Summary

First published in 1962

Table of Contents

PUBLISHER'S PREFACE	vii
FOREWORD	xiii
INTRODUCTION	xv
I. THE ECONOMIC PLAN OF THE HOUSEHOLD	1	(47)
§1. The Determinants of the Household's Consumption plan	1	(3)
§2. The Quantitative Relationships between Demand, Tastes, Prices and Total Consumption-Spending	4	(4)
§3. The Derivation of the Individual Demand Function and the Indifference Map of the Household	8	(11)
§4. Elasticity of Demand with respect to Price and Income	19	(9)
§5. The Relation between Individual Monetary Demand and Physical Demand	28	(8)
§6. The Derivation of the Aggregate Demand Function from the Individual Demand Functions	36	(1)
§7. The Micro-Economic and the Macro-Economic Consumption Function	37	(7)
§8. The Long-Term Economic Plan of the Household (Dynamic Demand Functions)	44	(4)
II. THE ECONOMIC PLAN OF THE, FIRM	48	(177)
A. Objectives, Modes of Behaviour and Forms of Market	48	(22)
§1. The Objectives of the Firm	48	(1)
§2. The Modes of Behaviour of the Firm	49	(6)
a. The Behaviour of the Quantity-Adjuster	49	(1)
b. Price Fixing on the Basis of an Expected Price-Sales Relation	50	(4)
c. Fixing the Quantity of Sales on the Basis of an Expected Sales Relation	54	(1)
d. The Fixing or Accepting of Options	54	(1)
e. Economic Warfare: Strategy and Manoeuvre	55	(1)
§3. Competition between Sellers	55	(7)
§4. Location of Production and Sales Area: an Example of Heterogeneous Competition	62	(8)
B. The Revenue Plan of the Firm for a Single Economic Period	70	(8)
§1. The Revenue Plan of a Seller Acting as a Quantity-Adjuster	70	(1)
§2. The Revenue Plan of a Seller Facing an Expected Price-Sales Relation	71	(7)
§3. The Revenue Plan of a Multi-Product Firm Supplying "Made-to-Order" Goods	78	(1)
C. The Cost Plan of a Going Firm for a Single Economic Period (The Short-Term Cost Plan)	78	(20)
§1. The Cost Plan of a Single-Product Firm	78	(14)
§2. The Cost Plan of a Multi-Product Firm	92	(6)
D. The Profit Plan of a Going Firm for a Single Economic Period (The Short-Term Profit Plan)	98	(41)
(i) The Profit Plan of a Single-Product Firm	98	(31)
§1. The Profit Plan of a Firm Acting as a Quantity-Adjuster	98	(11)
§2. The Profit Plan of a Seller Facing an Expected Price-Sales Relation	109	(11)
§3. The Problem of Price Discrimination	120	(9)
(ii) The Profit Plan of a Multi-Product Firm	129	(10)
E. The Production Function as the Basis of Cost Planning	139	(59)
§1. Linear-Limitational Factors	140	(4)
§2. Continuously Substitutable Factors	144	(40)
a. Returns to Scale Functions (Returns Functions When the Scale Varies)	148	(4)
b. Returns Functions When Factors Vary Partially (Variation of One Substitute Factor On Its Own)	152	(6)
c. The Minimum Cost Combination	158	(13)
d. The Profit Plan of a Firm using Substitutional and Variable Factors	171	(13)
§3. Substitution between a Finite Number of Linear-Limitational Processes	184	(14)
F. The Long-Term Economic Plan of a Firm	198	(27)
III. STATICS AND DYNAMICS IN ECONOMIC THEORY	225	(6)
IV. THE PROBLEM OF EQUILIBRIUM IN A CLOSED ECONOMY	231	(133)
A. The Concept of Economic Equilibrium	231	(8)
B. Partial Equilibrium	239	(85)
§1. The Equilibrium Price of a Good with a Constant Supply Per Unit of Time	239	(11)
§2. The Equilibrium Price of a Good with a Variable Supply Per Unit of Time	250	(21)
a. Variable Supply out of a given Level of Stocks	250	(6)
b. Variable Supply from Current Production	256	(9)
c. The Cobweb Problem	265	(6)
§3. The Equilibrium Price of a Good Available from Given and Unchanging Stocks	271	(5)
§4. The Liquidity Theory of Interest as a Partial Equilibrium Theory	276	(4)
§5. The Problem of Equilibrium under a Supply Monopoly	280	(4)
§6. The Problem of Equilibrium under Heterogeneous Competition between Two Suppliers	284	(15)
§7. The Problem of Equilibrium under Bilateral Monopoly	299	(14)
§8. The Problem of Equilibrium in the Labour Market	313	(9)
§9. The Problem of Equilibrium in the Market for Land	322	(2)
C. Total Equilibrium in a Closed Economy	324	(40)
§1. Partial versus Total Equilibrium	324	(4)
§2. Total Equilibrium in a Stationary Exchange Economy without Production (The Case of a Pure Exchange Economy)	328	(17)
a. Exchange between Two Parties	328	(4)
b. Exchange between Three Parties	332	(13)
§3. Total Equilibrium in a Stationary Exchange Economy with Production	345	(14)
§4. Scheme of the General Interdependence between Economic Variables and the Data for the Whole Economy	359	(5)
FURTHER PROBLEMS	364	(3)
INDEX OF AUTHORS	367	(2)
INDEX OF SUBJECTS	369