A. Wald has presented a model of production and a model of exchange and proofs of the existence of an equilibrium for each of them. Here proofs of the existence of an equilibrium are given for an integrated model of production, exchange and consumption. In addition the assumptions made on the technologies of producers and the tastes of consumers are significantly weaker than Wald's. Finally a simplification of the structure of the proofs has been made possible through use of the concept of an abstract economy, a generalization of that of a game.
MLA
Debreu, Gerard, and Kenneth J. Arrow. “Existence of an Equilibrium for a Competitive Economy.” Econometrica, vol. 22, .no 3, Econometric Society, 1954, pp. 265-290, https://www.jstor.org/stable/1907353
Chicago
Debreu, Gerard, and Kenneth J. Arrow. “Existence of an Equilibrium for a Competitive Economy.” Econometrica, 22, .no 3, (Econometric Society: 1954), 265-290. https://www.jstor.org/stable/1907353
APA
Debreu, G., & Arrow, K. J. (1954). Existence of an Equilibrium for a Competitive Economy. Econometrica, 22(3), 265-290. https://www.jstor.org/stable/1907353
We are deeply saddened by the passing of Kate Ho, the John L. Weinberg Professor of Economics and Business Policy at Princeton University and a Fellow of the Econometric Society. Kate was a brilliant IO economist and scholar whose impact on the profession will resonate for many years to come.
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