caa a22 4500 386396132 CHVBK 20180307112139.0 cr unu---uuuuu 161130s1989 xx s 000 0 eng 10.1017/S0770451800029729 doi S0770451800029729 pii (NATIONALLICENCE)cambridge-10.1017/S0770451800029729 Santos Ferreira Rodolphe Dos B.E.T.A., Université Louis Pasteur, Strasbourg Équilibre marshallien et équilibre walrasien [Elektronische Daten] [Rodolphe Dos Santos Ferreira] Walras and Marshall both start from a dynamic view of equilibrium' as a stationary state of an adjustment process, but they get to distinct static characterisations of equilibrium states. Equilibrium is conceived by the former as entailing compatibility of actions, by the latter as expressing fulfilment of expectations. This difference in concepts is linked to the contrast in the approaches of time : Walras treats processes, production in particular, as if they were instantaneous, whereas Marshall relies upon a family of nested periods of non-negligible duration. It is also stressed that Marshallian expectational equilibrium is really a rational expectations equilibrium, in the sense that Marshallian agents correctly use available exogenous information in order to form price expectations. This is particularly clear in the analysis of the working oi markets, where information, in contrast to Walras' view, is assumed to be decentralized, but efficiently used by professional intermediaries. Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1989 031 nationallicence 036 nationallicence 031 nationallicence 036 nationallicence Recherches Economiques De Louvain / Louvain Economic Review Cambridge University Press 55/4(1989), 399-424 0770-4518 55:4<399 1989 55 LER https://doi.org/10.1017/S0770451800029729 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1017/S0770451800029729 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Santos Ferreira Rodolphe Dos B.E.T.A., Université Louis Pasteur, Strasbourg NATIONALLICENCE 773 0- Recherches Economiques De Louvain / Louvain Economic Review Cambridge University Press 55/4(1989), 399-424 0770-4518 55:4<399 1989 55 LER CC0 http://creativecommons.org/publicdomain/zero/1.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-cambridge