General Equilibrium Theory: An Introduction

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Review 'Ross Starr has performed a major service in preparing his introductory and yet fully self-contained textbook on general equilibrium theory. No customer reviews.

General and partial equilibrium

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General Equilibrium Theory

May 1, - Published on Amazon. I agree with the previous reviewer that this book is an effort at a step-by-step approach to General Equilibrium for the student who cannot swallow everything all at once. Nevertheless, big flaws mar the exposition in a way that makes it very annoying to the expert and confusing to the point of uselessness for the beginner. There are at least five big theorems -- and probably more -- in which key assumptions are misstated; or not stated at all; or assumptions are stated which are not needed and are never used.

Signs are messed up in key parts of proofs, leading to no end of confusion.

General equilibrium theory - Wikipedia

In general, the sloppiness of the exposition is breathtaking. The sophisticated student will find himself able to prove the theorems more elegantly and correctly than the author and will be annoyed by the author's errors.

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The beginning student will often be completely lost in the proofs or statements which are incomprehensible because they are wrong, but the student does not know that. Chapter 17 is a particularly egregious example. This book is a stab at something that is sorely needed -- a readable, elementary, and accessible introduction to General Equilibrium.

Unfortunately, Starr flubs it.


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A second edition of this book, with the mistakes eliminated, might be quite good. As it stands, I would not recommend it to anyone who does not want to spend hours of frustration correcting the author's sloppiness. Go to Amazon. Many of our ebooks are available through library electronic resources including these platforms:.

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More about this book. Chapter 1 [PDF].

Recent Criticism of General Equilibrium Theory

Polyrakis, Mathematical Reviews Clippings. This will be an excellent text for advanced graduate students in economic theory, an introduction for mathematics students with an interest in applications of differential topology, and a must-have reference for researchers in general equilibrium theory.


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Spear, Carnegie Mellon University. Yves Balasko.