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Rationality and the LeChatelier Principle

✍ Scribed by Kevin Roberts

Book ID
112257947
Publisher
Elsevier Science
Year
1999
Tongue
English
Weight
138 KB
Volume
87
Category
Article
ISSN
0022-0531

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LeChatelier [Comptes Rendus 99 (1884) 786; Ann. Mines 13 (2) (1888) 157] showed that a physical system's ''adjustment'' to a disturbance to its equilibrium tended to be smaller as constraints were added to the adjustment process. Samuelson [Foundations of Economic Analysis, Harvard University Press,