Normality as a Theoretical Concept

Schlicht, Ekkehart (May 2005): Normality as a Theoretical Concept. Comment on Mehrdad Vahabi. Discussion Papers in Economics 2005-10

Abstract

This note comments briefly on Mehdad Vahabi's article on Alfred Marshall's concept of "Normal Value." It points out, in particular, the relationship between normality and equilibrium in the context of Marshall's moving equilibrium method.

• Item Type: Paper
• Keywords: Marshall; normal value; equilibrium; moving equilibrium; temporary equilibrium; d'Alembert; Principle of Hicks-d'Alembert; ex ante - ex post
• Faculties: Economics; Economics > Munich Discussion Papers in Economics; Economics > Munich Discussion Papers in Economics > History of Economic Thought; Economics > Munich Discussion Papers in Economics > Philosophy and Methodology of Economics; Economics > Chairs > Chair of Institutional Economics (closed)
• Subjects: 300 Social sciences > 300 Social sciences, sociology and anthropology; 300 Social sciences > 330 Economics
• JEL Classification: B13, B41
• Language: English