New economic theory reveals balance of supply, demand, and prices.
The article "Goods and Prices" explains how supply, demand, and prices in economics are balanced through pricing mechanisms. The author, Yves Balasko, explores the concept of general equilibrium and its mathematical tools, showing how it applies to various economic models. Balasko's research delves into the properties of the standard general equilibrium model, using differential topology methods to analyze equilibrium solutions and market price discontinuities. The book provides a clear and accessible foundation for understanding economic theory, making it suitable for graduate economics students, advanced undergraduates in mathematics, and researchers in the field.