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Competitive Agents in Certain and Uncertain Markets - Oxford Scholarship Online
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Competitive Agents in Certain and Uncertain Markets

Robert G. Chambers

Abstract

This book uses concepts from optimization theory to develop an integrated analytic framework for treating consumer, producer, and market equilibrium analyses as special cases of a generic optimization problem. The same framework applies to both stochastic and non-stochastic decision settings, so that the latter is recognized as an (important) special case of the former. The analytic techniques are borrowed from convex analysis and variational analysis. Special emphasis is given to generalized notions of differentiability, conjugacy theory, and Fenchel's Duality Theorem. The book shows how virt ... More

Keywords: consumer theory, producer theory, competitive equilibrium analysis, decision making under uncertainty, convex analysis, conjugacy theory, duality

Bibliographic Information

Print publication date: 2021 Print ISBN-13: 9780190063016
Published to Oxford Scholarship Online: December 2020 DOI:10.1093/oso/9780190063016.001.0001

Authors

Affiliations are at time of print publication.

Robert G. Chambers, author
Professor of Agricultural and Resource Economics, University of Maryland