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Everything about Competitive equilibrium
Economic equilibrium concept
Competitive equilibrium is a concept of economic equilibrium, introduced by Kenneth Arrow and Gérard Debreu in 1951, appropriate for the analysis of commodity markets with flexible prices and many traders, and serving as the benchmark of efficiency in economic analysis. It relies crucially on the assumption of a competitive environment where each trader decides upon a quantity that is so small compared to the total quantity traded in the market that their individual transactions have no influence on the prices. Competitive markets are an ideal standard by which other market structures are evaluated. Wikipedia →
🧭 Start here: a 6-step reading path
- Read the overview: Competitive equilibriumA 5-minute orientation
- Skim a recent paper: Strategic investment decisions in an oligopoly with a competitive fringe: An equilibrium problem with equilibrium constraints approachInfluential work since 2022
- Pick up a classic book: Essays on value and distributionThe most-reprinted book on the subject
- Read the landmark paper: Existence of an Equilibrium for a Competitive EconomyCited 3,335 times
- Go sideways: Abstract economyA closely related topic
- Go sideways: Gross substitutes (indivisible items)A closely related topic
📖 Definitions
No dictionary entry for this exact phrase.
🗂️ The subject at a glance
🏆 Landmark papers (most cited)
Existence of an Equilibrium for a Competitive Economy
Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information
Competitive Search Equilibrium
Competitive Equilibrium Under Uncertainty
Money in Search Equilibrium, in Competitive Equilibrium, and in Competitive Search Equilibrium
Competitive equilibrium cycles
A simplified competitive equilibrium adsorption model
Competitive Equilibrium in Markets for Votes
🆕 Influential since 2022
Strategic investment decisions in an oligopoly with a competitive fringe: An equilibrium problem with equilibrium constraints approach
Defect‐Competitive Equilibrium Driven 13.83% Efficiency Breakthrough in DMF‐Based CZTSSe Solar Cells
Equilibrium blockchain adoption strategies for duopolistic competitive platforms with network effects
Closed-loop Nash equilibrium for a partial differential game with application to competitive personalized advertising
Competitive removal of ternary dyes mixture from aqueous media: equilibrium, kinetic, isotherm, thermodynamic and DFT studies
📚 Books worth reading
Essays on value and distributionKaldor, Nicholas, N. Kaldor · 1960
International Trade and National WelfareMurray C. Kemp · 2001- 📕Non-Renewable Resources and Disequilibrium MacrodynamicsRobert Marks · 2017
Strategic Foundations of General EquilibriumDouglas Gale · 2000- 📕Cooperative MicroeconomicsHervé Moulin · 2014
Theories of imperfectly competitive marketsLuis C. Corchón · 1996- 📕Aspects of competition in a spatial contextJohn B. Parr · 1994
- 📕Unvollkommene Märkte in der keynesianischen TheorieMathias Erlei · 1991
Ranked by number of editions on Open Library, a rough measure of how lasting a book is.
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