The first would be General Equilibrium models in which a complete set of spot and future markets exist and in which goods are distinguished by location, date of delivery, and contingent events. Canonical statements of such a theory include:
- Gerard Debreu (1959). Theory of Value: An Axiomatic Analysis of Economic Equilbrium, Cowles Foundation Monograph.
- Kenneth J. Arrow and Frank Hahn (1971). General Competitive Analysis, Holden-Day.
Another possibility is models of temporary equilibrium. I look at the following as canonical statements of this theory
- J. R. Hicks (1946). Value and Capital: An Inquiry into Some Fundamental Principles of Economic Theory, 2nd edition, Oxford University Press.
- J. M. Grandmont (1977). "Temporary General Equilibrium Theory", Econometrica, V. 45, N. 3 (Apr.): pp. 535-572.
Maybe game theory is the foundation of contemporary mainstream price theory. But cannot a game be found to rationalize almost any observed behavior? Is it not more a bag of tricks than a theory? Nevertheless, I have heard mainstream economists say good things about the following text:
- David M. Kreps (1990). A Course in Microeconomic Theory, Princeton University Press.
As I understand it, the dominant introductory graduate textbooks in mainstream microeconomics remain:
- Andreu Mas Colell, Michael D. Whinston, and Jerry R. Green (1995). Microeconomic Theory, Oxford University Press.
- Hal R. Varian (1992). Microeconomic Analysis, 3rd edition, W. W. Norton.