Competitive equilibrium (also called: Walrasian equilibrium) is a concept of economic equilibrium, introduced by Kenneth Arrow and Gérard Debreu in 1951...

of equilibrium in economics also applies to imperfectly competitive markets, where it takes the form of a Nash equilibrium. An economic equilibrium is...

assumption two common notions of equilibrium exist: Walrasian, or competitive equilibrium, and its generalization: a price equilibrium with transfers. The first...

In macroeconomics, recursive competitive equilibrium (RCE) is an equilibrium concept. It has been widely used in exploring a wide variety of economic...

of competitive equilibrium. Families of curves of the pattern of Fig. 14 are an example of this. With equilibrium defined as 'competitive equilibrium',...

supplier is looking to sell and therefore, the market is in equilibrium. The competitive equilibrium has many applications for predicting both the price and...

competitive equilibrium if and only if no set of agents is super-self-sufficient. Proof of "only if" direction: Suppose the economy is in equilibrium...

model for existence of a competitive equilibrium. Indeed, a Leontief economy is not guaranteed to have a competitive equilibrium. There are restricted families...

function. This defeats the point of a competitive equilibrium, where no such intervention takes place. The equilibrium is decentralized and left to the producers...

general equilibrium Recursive competitive equilibrium, an economic equilibrium concept associated with a dynamic program Static equilibrium (economics)...