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ERIC Number: EJ872064
Record Type: Journal
Publication Date: 2010
Pages: 9
Abstractor: As Provided
Reference Count: 18
ISSN: ISSN-0022-0485
The Traders' Cross: Identifying Traders' Surpluses in the Traditional Edgeworth Exchange Diagram
Beaulier, Scott A.; Prychitko, David L.
Journal of Economic Education, v41 n1 p54-62 2010
The Edgeworth exchange diagram is a traditional tool of undergraduate microeconomic theory that depicts the mutually beneficial gains from voluntary trade. The authors take the analysis one step further. They identify the buyer's and seller's surpluses that accrue to both trading parties in the Edgeworth diagram. This is a straightforward exercise that has not, however, been developed in microeconomics textbooks, an exercise that can further hone students' understanding of the concept of buyer's and seller's surpluses and the notion of gains from voluntary exchange. (Contains 4 figures and 6 notes.)
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Publication Type: Journal Articles; Reports - Evaluative
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A