Some articles on competitive, equilibrium, competitive equilibrium allocation:
... (1776) first recognized how the invisible hand - a competitive market mechanism - can reconcile the complicated and conflicting forces of self-interested agents and guides the system to an equilibrium ... The equilibrium is a state in which there exists a system of prices (i.e ... the bundles obtained by all agents in the equilibrium state is called a competitive equilibrium allocation and is a redistribution of all agents’ initial ...
Famous quotes containing the words competitive and/or equilibrium:
“The shift from the perception of the child as innocent to the perception of the child as competent has greatly increased the demands on contemporary children for maturity, for participating in competitive sports, for early academic achievement, and for protecting themselves against adults who might do them harm. While children might be able to cope with any one of those demands taken singly, taken together they often exceed childrens adaptive capacity.”
—David Elkind (20th century)
“They who feel cannot keep their minds in the equilibrium of a pair of scales: fear and hope have no equiponderant weights.”
—Horace Walpole (17171797)