火曜日, 1月 09, 2018

複数均衡






 Mill, Principles of Political Economy, Book III, Chapter XVIII | Library of Economics and Liberty

http://www.econlib.org/library/Mill/mlP47.html


複数均衡のアイデアは上記のミルからマーシャルが示唆を受けて以下で説明した



Early Economic Writings, 1867-90 - 149 ページ

John K. Whitaker, Alfred Marshall - 1975



The supposition was, that England could produce 10 yards of cloth with the same labour as 15 of linen, and Germany with the same labour as 20 of linen; that a trade was opened between the two countries; that England thenceforth confined her production to cloth, and Germany to linen; and, that if 10 yards of cloth should thenceforth exchange for 17 of linen, England and Germany would exactly supply each other's demand: that, for instance, if England wanted at that price 17,000 yards of linen, Germany would want exactly the 10,000 yards of cloth, which, at that price, England would be required to give for the linen. Under these suppositions it appeared, that 10 cloth for 17 linen would be, in point of fact, the international values. 

III.18.37

But it is quite possible that some other rate, such as 10 cloth for 18 linen, might also fulfil the conditions of the equation of international demand. Suppose that, at this last rate, England would want more linen than at the rate of 10 for 17, but not in the ratio of the cheapness; that she would not want the 18,000 which she could now buy with 10,000 yards of cloth, but would be content with 17,500, for which she would pay (at the new rate of 10 for 18) 9722 yards of cloth. Germany, again, having to pay dearer for cloth than when it could be bought at 10 for 17, would probably reduce her consumption to an amount below 10,000 yards, perhaps to the very same number, 9722. Under these conditions the Equation of International Demand would still exist. Thus, the rate of 10 for 17, and that of 10 for 18, would equally satisfy the Equation of Demand: and many other rates of interchange might satisfy it in like manner. It is conceivable that the conditions might be equally satisfied by every numerical rate which could be supposed. There is still therefore a portion of indeterminateness in the rate at which the international values would adjust themselves; showing that the whole of the influencing circumstances cannot yet have been taken into account. 

III.18.38

§7. It will be found that, to supply this deficiency, we must take into consideration not only, as we have already done, the quantities demanded in each country of the imported commodities; but also the extent of the means of supplying that demand which are set at liberty in each country by the change in the direction of its industry.


https://books.google.co.jp/books?id=1Y3UP9YoYpUC&pg=PA94&dq=Multiple+equilibria+mill+essayes&hl=ja&sa=X&ved=0ahUKEwjAltaFvszYAhVCjZQKHY6pApoQ6AEIJjAA#v=onepage&q=Multiple%20equilibria%20mill%20essayes&f=false

for strong comments on the use of constant elasticities  mill

mcc

john stuart mill

Centenary Essays on Alfred Marshall

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John K. Whitaker

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