will result in an overall general equilibrium. General equilibrium theory contrasts with the theory of partial equilibrium, which analyzes a specific...

future forecasting purposes. DSGE econometric modelling applies general equilibrium theory and microeconomic principles in a tractable manner to postulate...

Computable general equilibrium (CGE) models are a class of economic models that use actual economic data to estimate how an economy might react to changes...

oligopoly, monopoly and monopsony. Computable general equilibrium Cost curve General equilibrium theory Law of one price p. 538, Andreu Mas-Colell, Michael...

most general models of competitive economy and is a crucial part of general equilibrium theory, as it can be used to prove the existence of general equilibrium...

of player. The Walrasian equilibria of an exchange economy in a general equilibrium model, will lie in the core of the cooperation game between the agents...

subjectivism accompanies these emphases. See also general equilibrium. Neoclassical economics uses the utility theory of value, which states that the value of...

In game theory, the Nash equilibrium is the most commonly-used solution concept for non-cooperative games. A Nash equilibrium is a situation where no...

The main use of the Edgeworth box is to introduce topics in general equilibrium theory in a form in which properties can be visualised graphically. It...

marginal theory of value (independently of William Stanley Jevons and Carl Menger) and pioneered the development of general equilibrium theory. Walras...

concept of underemployment equilibrium originates from analyzing underemployment in the context of General Equilibrium Theory, a branch of microeconomics...

in game theory that is more general than Nash equilibrium Nash equilibrium, the basic solution concept in game theory Quasi-perfect equilibrium, a refinement...

In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by several idealizing conditions...

classical general equilibrium model aims to describe the economy by aggregating the behavior of individuals and firms. Note that the classical general equilibrium...

proved his first results on the structure of the equilibrium manifold in the theory of general equilibrium. After completing his dissertation on "L'équilibre...

The narrative theory of equilibrium was proposed by Bulgarian narratologist Tzvetan Todorov in 1971. Todorov delineated this theory in an essay entitled...

that Soto scorns general equilibrium theory, citing a passage in which Soto refers to the "pernicious analysis" of price equilibrium at "the intersection...

Preferences are supposed to be locally nonsatiated. Market is at competitive equilibrium if there are no monopolies in the market. This means that prices are...

His contributions to social choice theory, notably his “impossibility theorem", and his work on general equilibrium analysis are significant. He work in...

Ross M. (1997). General Equilibrium Theory. Cambridge University Press. ISBN 978-0-521-56473-1. McKenzie, Lionel (1954). "On Equilibrium in Graham's Model...

empirically estimating the Arrow–Debreu model of general equilibrium theory with empirical data, to provide "“a general method for the explicit numerical solution...

from either general equilibrium asset pricing or rational asset pricing, the latter corresponding to risk neutral pricing. Investment theory, which is near...

Thermodynamic equilibrium is an axiomatic concept of thermodynamics. It is an internal state of a single thermodynamic system, or a relation between several...

Walras's law is a principle in general equilibrium theory asserting that budget constraints imply that the values of excess demand (or, conversely, excess...

In game theory, a correlated equilibrium is a solution concept that is more general than the well known Nash equilibrium. It was first discussed by mathematician...

Quantity adjustment contrasts with the tradition of Léon Walras and general equilibrium. For Walras, (ideal) markets operated as if there were an Auctioneer...

in the context of partial equilibrium theory, it is sometimes called Walrasian demand as used in general equilibrium theory (named after Léon Walras)...

also known as non-Walrasian theory, equilibrium with rationing, the non-market clearing approach, and non-tâtonnement theory. Early work in the area was...

is inconsistent with general equilibrium theory, which stipulates that markets move towards equilibrium and that non-equilibrium fluctuations are merely...

Reflective equilibrium is a state of balance or coherence among a set of beliefs arrived at by a process of deliberative mutual adjustment among general principles...