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...

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

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

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)...

Approximate Competitive Equilibrium from Equal Incomes (A-CEEI) is a procedure for fair item assignment. It was developed by Eric Budish. CEEI (Competitive Equilibrium...

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

price equilibrium cannot reflect the true costs or benefits of that product or service for society as a whole. This causes the externality competitive equilibrium...

in time. The intertemporal general equilibrium is then analyzed as the Nash equilibrium or competitive equilibrium of the intertemporal strategies of...

intended effect of keeping the market price of a good higher than the competitive equilibrium level. In the case of a price control, a price support is the minimum...

Market equilibrium computation (also called competitive equilibrium computation or clearing-prices computation) is a computational problem in the intersection...

to the different industries that use them. In long-run equilibrium for perfectly competitive markets, productive efficiency occurs at the base of the...

general equilibrium except under other, very specific conditions such as that of monopolistic competition. In the short-run, perfectly competitive markets...

enterprise system..." and establish an equilibrium system of prices and production. At competitive equilibrium, the value society places on a good is...

externalities), if an allocation and a set of prices constitute a competitive equilibrium, then the allocation is Pareto efficient. The second welfare theorem...

fundamental problems in a mixed private enterprise system..." At competitive equilibrium, the value society places on a good is equivalent to the value of the...

existence result to prove the existence of a Walrasian equilibrium (aka competitive equilibrium) in the Arrow–Debreu model. Later, Shafer and Sonnenschein...

economy. Equilibrium: In accordance with Léon Walras's General Competitive Equilibrium Theory, the model captures the interaction between policy actions...

a small number of firms that are nevertheless characterized by competitive equilibrium (and therefore desirable welfare outcomes) because of the existence...

Note the difference from a competitive equilibrium in a market of private goods (Fisher market): In a Fisher market equilibrium, there is a single price-vector...

strategy equilibrium. This can give rise to multiple pure-strategy equilibria, some of which may be distant from the competitive equilibrium price. More...

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 (or Walrasian...

restrictions, any Pareto efficient outcome can be achieved through a competitive market equilibrium, provided that a social planner uses a social welfare function...

second theorem states that any Pareto optimum can be supported as a competitive equilibrium for some initial set of endowments. The implication is that any...

regarding an exchange economy is if and when the economy attains a competitive equilibrium. Exchange and distribution efficiency are concerned. A pure exchange...