The aim of this article is to assess Friedman’s claim, put forward in his 1949 article on the Marshallian demand curve, that there is a methodological divide between the Marshallian and Walrasian approaches. Friedman’s argument will be critically examined and compared with the views he expressed in other articles written around the same time. My evaluation will lead to a mixed conclusion. Posit...

Desde hace mucho se ha tenido la idea de que las acciones los individuos al ser coordinadas a través mercados parecen alcanzar una situación cierta forma beneficiosa para sociedad en su conjunto. En 1874, obra Elementos Economía Política Pura, o Teoría Riqueza Social, Leon Walras buscó demostrar cómo todos interactuaban conjunta hasta reposo.

Walras theory is well known and widely used in models of market economy. Various iterative methods are developed to search for the equilibrium conditions. In this paper a new approach is proposed and implemented where the search for Walras equilibrium is defined as a stochastic global optimization problem. This way random nature of customer arrivals is represented and the convergence to equilib...

In a bilateral oligopoly, with large traders, represented as atoms, and small traders, represented by an atomless part, when is there a non-empty intersection between the sets of Walras and Cournot-Nash allocations? Using a two commodity version of the Shapley window model, we show that a necessary and sufficient condition for a CournotNash allocation to be a Walras allocation is that all atoms...

In a bilateral oligopoly, with large traders, represented as atoms, and small traders, represented by an atomless part, when is there a non-empty intersection between the sets of Walras and Cournot-Nash allocations? Using a two commodity version of the Shapley window model, we show that a necessary and sufficient condition for a CournotNash allocation to be a Walras allocation is that all atoms...