Chapter

Opportunity Models

S. N. Afriat

in Logic of Choice and Economic Theory

Published in print November 1987 | ISBN: 9780198284611
Published online November 2003 | e-ISBN: 9780191595844 | DOI: http://dx.doi.org/10.1093/0198284616.003.0018
 Opportunity Models

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This is the first of six chapters on the logic of price. Choice presupposes opportunity, and this chapter gives some account of that side of economic models. The four sections of the chapter are: the production function; general input–output; von Neumann's activity system; and axiomatics of Koopmans's (activity) system. Von Neumann's activity system is further discussed in the last chapter of Part IV (IV.6) as von Neumann's economic model.

Keywords: choice; economic models; input–output; Koopmans's activity system; opportunity models; price; production function; von Neumann's activity system; von Neumann's model

Chapter.  4226 words. 

Subjects: Microeconomics

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