Arrow-Debreu Equilibrium
The Arrow-Debreu model is a general equilibrium framework where prices adjust to clear all markets simultaneously, and consumers and firms optimize given those prices. Introduced by Kenneth Arrow and Gerard Debreu in 1954, the model extends Adam Smith's invisible hand concept into a rigorous mathematical framework. Arrow-Debreu equilibrium proves existence, uniqueness (under certain conditions), and Pareto efficiency of competitive equilibria.
Source record
Citations copied verbatim from the method’s source record. No claim-level verification is inferred from them.
- Arrow, K. J., & Debreu, G. (1954). Existence of an equilibrium for competitive economies. Econometrica, 22(3), 265-290. · DOI 10.2307/1907353
- Debreu, G. (1959). Theory of Value: An Axiomatic Analysis of Economic Equilibrium. Yale University Press. · URL
Curated claims
Claims persisted in the evidence ledger, each with its own assessment.
This view does not invent a claim assessment when the ledger has none.
Related methods
Generated from the method graph and shown as machine-suggested relations — no evidence claim is inferred.