Statements (23)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
gptkb:economic_policy
|
| gptkbp:alsoKnownAs |
competitive equilibrium
|
| gptkbp:assumes |
perfect competition
complete markets no externalities price-taking agents convex preferences |
| gptkbp:criticizedFor |
unrealistic assumptions
|
| gptkbp:describes |
state in which supply equals demand in all markets
|
| gptkbp:field |
microeconomics
|
| https://www.w3.org/2000/01/rdf-schema#label |
Walrasian equilibrium
|
| gptkbp:implies |
market clearing
Pareto efficiency under certain conditions |
| gptkbp:introduced |
gptkb:Léon_Walras
|
| gptkbp:introducedIn |
gptkb:Elements_of_Pure_Economics
|
| gptkbp:mathematicallyFormulatedBy |
gptkb:Arrow-Debreu_model
|
| gptkbp:namedAfter |
gptkb:Léon_Walras
|
| gptkbp:relatedTo |
general equilibrium theory
|
| gptkbp:requires |
existence of equilibrium prices
|
| gptkbp:studiedBy |
mathematical economics
|
| gptkbp:usedIn |
welfare economics
|
| gptkbp:bfsParent |
gptkb:Lausanne_School
|
| gptkbp:bfsLayer |
6
|