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NOBEL LAUREATE GERARD DEBREU'S THEORY OF VALUE, HIS "MASTERPIECE"

DEBREU, Gerard. Theory of Value. New York / London, 1959.

First edition of the groundbreaking work by Debreu, winner of the 1983 Nobel Prize in Economics, viewed as "one of the few classics of our period" by the prestigious American Economic Review for his revolutionary insights into the economics of "'general equilibrium"—demonstrating a "freely competitive economy can, in theory, reach a state in which supply balances demand in every market… an entire economy could, at least theoretically if not necessarily in fact, be in equilibrium" (Time), a handsome copy in the original dust jacket. $4200.

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THE FIRST APPEARANCE OF THE ARROW-DEBREU EXISTENCE THEOREM

ARROW, Kenneth J. and DEBREU, Gerard. Existence of an Equilibrium for a Competitive Economy. Chicago, Illinois, July 1954.

First edition of the journal issue containing the first appearance of the groundbreaking article containing one of the first simple proofs of the existence of a competitive equilibrium, the Arrow-Debreu Existence Theorem, a major piece of the work for which Arrow and Debreu were awarded their Nobel Prizes in economics. $3500.

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