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Perfect competition
(redirected from Walrasian model)

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Perfect competition
An idealized market environment in which every market participant is too small to affect the market price by acting on its own.
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Early he was much taken with the Walrasian model of market equilibrium.
By Force of Thought: Irregular Memoirs of an Intellectual Journey by Campbell, Robert / Comparative Economic Studies
The blue lines are stable according to the Walrasian model of dynamic adjustments, and the green lines are the unstable equilibria according to that theory.
Markets as Information Gathering Tools by Plott, Charles R. / Southern Economic Journal
Where the perverse curves are due to an externality, the Marshallian model and not the Walrasian model define the conditions under which unstable equilibria exist.
Instability of equilibria in experimental markets: upward-sloping ... by Smith, Jared / Southern Economic Journal
 
 
 
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