In mathematical economics, the Arrow–Debreu model is a theoretical general equilibrium model. It posits that under certain economic assumptions (convex...

economics, a state-price security, also called an Arrow–Debreu security (from its origins in the Arrow–Debreu model), a pure security, or a primitive security...

with the work of Lionel W. McKenzie (Walrasian theory), Kenneth Arrow and Gérard Debreu (Hicksian theory) in the 1950s. Broadly speaking, general equilibrium...

In theoretical economics, an Arrow–Debreu exchange market is a special case of the Arrow–Debreu model in which there is no production - there is only an...

The term Arrow-Debreu market can refer to two closely related economic models: Arrow–Debreu model - a general market model, in which there are households...

Gérard Debreu (French: [dəbʁø]; 4 July 1921 – 31 December 2004) was a French-born economist and mathematician. Best known as a professor of economics at...

following version is formulated in the Arrow–Debreu model of economy. For the notation, see the Arrow–Debreu model page. Theorem—Let N {\displaystyle N}...

Arrow and Gérard Debreu formulated abstract models of economic equilibria using convex sets and fixed–point theory. In introducing the Arrow–Debreu model...

fiat money depends upon exchange and not weight (compare with the Arrow–Debreu model). Traditionally, research areas in monetary economics have included:...

work and his other contributions, Debreu won the 1983 Nobel Prize in Economics. Arrow went on to extend the model and its analysis to include uncertainty...

equilibrium) is a concept of economic equilibrium, introduced by Kenneth Arrow and Gérard Debreu in 1951, appropriate for the analysis of commodity markets with...

long-run models. This trend probably reached its culmination with the Arrow–Debreu model of intertemporal equilibrium. The Arrow–Debreu model has canonical...

Terje Hansen in 1973, with the aim of empirically estimating the Arrow–Debreu model of general equilibrium theory with empirical data, to provide "“a...

existence of a Walrasian equilibrium (aka competitive equilibrium) in the Arrow–Debreu model. Later, Shafer and Sonnenschein extended both theorems to irrational...

quantity constraints and studied their properties, extending the Arrow–Debreu model of general equilibrium theory in mathematical economics. Introduced...

Dumb agent theory State prices Arrow–Debreu model Stochastic discount factor Pricing kernel Application: Arrow–Debreu model § Economics of uncertainty: insurance...

transactions between the markets at any time. In the standard frictionless Arrow–Debreu model, since the nonmonetary competitive equilibria are already Pareto optimal...

economic models, as it leads to market behavior that is easy to understand and which has desirable properties. For example, the Arrow–Debreu model of general...

(PhD, economics) University of California, Berkeley Arrow–Debreu model, Sonnenschein–Mantel–Debreu theorem 1984 Richard Stone (1913–1991) United Kingdom...

often more efficiently than checking all possible solutions. In the Arrow–Debreu model of general economic equilibrium, agents are assumed to have convex...

With the above relationship established, the further specialized Arrow–Debreu model may be derived. This result suggests that, under certain economic...

by Karl Schmedders • "convex programming" by Lawrence E. Blume • "Arrow–Debreu model of general equilibrium" by John Geanakoplos. De, Bishnu Prasad; Kar...

rejection of the Arrow-Debreu model in favor of different models, modifications to the assumed preferences of investors, imperfections in the model of risk aversion...

Black–Karasinski Short Rate Model Colin Turfus (2018). Analytic Swaption Pricing in the Black–Karasinski Model Colin Turfus (2018). Exact Arrow-Debreu Pricing for the...

of Arrow-Debreu prices, the prices of Arrow-Debreu securities, are known. Risk-free interest rate List of economics topics Black-Scholes model Arrow-Debreu...

In the 1950s Kenneth Arrow and Gérard Debreu (1921–2004) developed the Arrow–Debreu model of general equilibria. In 1963 Arrow published a paper which...

with the profit being the difference between the market prices. Arrow–Debreu model A model that suggests there must be a set of prices such that aggregate...

economics, incomplete markets are markets in which there does not exist an Arrow–Debreu security for every possible state of nature. In contrast with complete...

demand curve will have a negative slope. Geanakoplos, John (1987). "Arrow-Debreu model of general equilibrium". The New Palgrave: A Dictionary of Economics...

Walras' law Fisher market - a different market model. Arrow-Debreu market - yet another market model. Wurman 1999, p. 87. Ackerman 2002, pp. 122–123...