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...

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...

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...

focused on general equilibrium theory, monetary theory, Keynesian economics and critique of monetarism. A famous problem of economic theory, the conditions...

attempt to estimate deviations from a general equilibrium based on the fluctuations in output and the general price level. First known reference is in...

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...

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...

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

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

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

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

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...

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

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

include uncertainty, the stability. His contributions to the general equilibrium theory were influenced by Adam Smith's Wealth of Nations. Written in...

comparisons when only the relative prices are relevant, as in general equilibrium theory. When economic analysis refers to a particular good as the numéraire...

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

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

Economic Theory is a peer-reviewed academic journal that focuses on theoretical economics, particularly social choice, general equilibrium theory, and game...

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

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

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

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

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

A Markov perfect equilibrium is an equilibrium concept in game theory. It has been used in analyses of industrial organization, macroeconomics, and political...

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