Competitive Equilibrium Allocation

Some articles on competitive, equilibrium, competitive equilibrium allocation:

Herbert Scarf - Major Works - 4. Core and Competitive Equilibrium Equivalence
... in his book ``The Wealth of Nations” (1776) first recognized how the invisible hand - a competitive market mechanism - can reconcile the complicated and conflicting forces of self-interested ... The equilibrium is a state in which there exists a system of prices (i.e ... bundles obtained by all agents in the equilibrium state is called a competitive equilibrium allocation and is a redistribution of all agents’ initial endowments of ...

Famous quotes containing the words competitive and/or equilibrium:

    Developing the muscles of the soul demands no competitive spirit, no killer instinct, although it may erect pain barriers that the spiritual athlete must crash through.
    Germaine Greer (b. 1939)

    When a person hasn’t in him that which is higher and stronger than all external influences, it is enough for him to catch a good cold in order to lose his equilibrium and begin to see an owl in every bird, to hear a dog’s bark in every sound.
    Anton Pavlovich Chekhov (1860–1904)