Walras's Market Models

'If prizes are given in the history of economic thought ... one ought to go to Donald Walker ... Walker's arguments are very convincing ... Those who are interested in knowing about the detailed analysis of Walras' own models should read and appreciate Walker's contribution.' The Economic Journal

Preface; Acknowledgements; Introduction; Part I. The Models of the Mature Phase; Section 1. Background and Preliminaries: 1. Walras's conception of a competitive market economy; 2. The mature models are not a normative scheme; 3. The mature models of the barter of stocks and commodities; 4. Institutions and participants in the model of monetary oral pledges markets; 5. Disequilibrium and equilibrium in the model of monetary oral pledges markets; 6. The structure of the mature nondurable consumer commodities model; 7. The equilibrating processes in the mature nondurable consumer commodities model; Section 2. The Mature Comprehensive Model: 8. The structure of the mature comprehensive model; 9. The equilibrating processes in the mature comprehensive model; 10. Walras and his critics on the maximum utility of new capital goods; 11. The mature models of the money market; 12. Iteration in the mature model of tatonnement; 13. The mature model of the behavior of the entrepreneur; 14. Walras versus Edgeworth on tatonnement processes; Part II. The Models of the Phase of Decline; Section 1. The Written Pledges Models: 15. The structure of the barter model of written pledges markets; 16. Disequilibrium features of the barter model of written pledges markets; 17. The written pledges markets in the last comprehensive model; Section 2. Other Models: 18. The markets for circulating capital and money in the last comprehensive model; 19. Conclusion; References; Collation of editions of the Elments; Index.