Download Preference, Production and Capital: Selected Papers of by Hirofumi Uzawa PDF

By Hirofumi Uzawa

ISBN-10: 0511664494

ISBN-13: 9780511664496

The papers accumulated right here take care of a variety of themes in monetary thought, starting from choice and intake, duality and construction, equilibrium, capital, and progress, to the speculation of social overhead capital. all of them have a standard subject matter: to aim to formulate the operating of financial forces in a capitalist economic system by way of mathematical versions and to discover their static, dynamic, and welfare implications. many of the papers have been initially released throughout the Nineteen Sixties and early Seventies.

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Then the Slutsky matrix S(p,m) is defined and satisfies the conditions of symmetry (S) and negative semidefiniteness (N) for every element (p,m) of Q. Proof. Let (p°, m°) be a point of Q and x° = £(p°9 m°). Define a subset K of the nonnegative commodity space by K = {X:XGD 0 andx^x }. (2) We define the function \i on n by (3) xeK [It is sometimes convenient to write more explicitly fi(p;p°,m°) for Since K is composed of nonnegative vectors, for any pell and xeK, px is a nonnegative number; therefore a nonnegative ^i(p) exists for all p e l l .

See Samuelson [8], pp. 111-112.

M) = x} is convex. • Lemma 7. 1), then /i(p;po,m°) = for all p. KKP1^1) Proof. Let p(t) and m(t) be defined by equations (51) and (52). Then, by Lemma 6, l m(t)) = ftp0, m°), for all 0 ^ t^ 1. Hence, ^ l. § The relation (58) shows that the path {(p(t\m(t)):0^ solution to (20). Applying Lemma 2 we then get fi(p(t); p°, m°) = m{t\ for all 0 g t^ 1. Therefore, hence, by Lemma 2, H(p;p°9m°) = n(p;p\m1), for all p. 3. Theorem 2 then follows directly from Lemma 8. Lemma 8. Let the demand function £(p,ra) satisfy conditions (A), (B), (D), (E), (S), and (N).

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