Equilibrium

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Related to equilibria: Punctuated equilibria

Equilibrium

The stable state of the system. See: Attractor.

Equilibrium

A state of stable prices brought about by the rough equality of supply and demand. This applies for consumer goods, securities, and most other goods and services.

equilibrium

a state of balance with no tendency to change. See EQUILIBRIUM MARKET PRICE, EQUILIBRIUM LEVEL OF NATIONAL INCOME, DISEQUILIBRIUM.
References in periodicals archive ?
6(a) compares the model results with the experimentally determined liquid phase ionic equilibria CO2-DEA-H2O system [23].
Under this setting, two equilibria exist: the Rothschild-Stiglitz separating equilibrium and the Wilson pooling equilibrium.
These interpretations can be seen as a fundamental contribution of Nash in terms of the substantive relevance of equilibria.
Chapters Twelve and Thirteen explain methods for computing equilibria of economies with consumers that have heterogeneous preferences and endowments.
As a general comment, we avoid games which have dominated strategies, as too many constraints are placed on which types of correlated equilibria are constructible in such games.
Of course, the possibility of multiple equilibria can complicate backward induction.
At best, LCP is a 'rule-of-thumb', a possible way of correctly predicting shifts in equilibria without needing to understand underlying processes.
11) Thus, as in Reinganum and Wilde (1986), the separating equilibrium we present is consistent with this refinement, while all other possible equilibria are not.
Hence, the price-sustainable monopoly market configuration emerges as one of two possible sub-game-perfect equilibria for this market game.
These stylized facts refute only the simplest way of modeling multiple equilibria and even then only under fairly specific conditions.