Monday, June 15, 2015

19.83 Gerard Debreu

Gerard Debreu "for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium"

In 1954, he published a breakthrough paper, entitled Existence of an Equilibrium for a Competitive Economy, together with Kenneth Arrow, in which they provided a definitive mathematical proof of the existence of a general equilibrium, using topological rather than calculus-based methods.

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