On Equilibrium in Graham's Model of World Trade and Other Competitive Systems.

McKenzie, L. W. (1954). On Equilibrium in Graham's Model of World Trade and Other Competitive Systems. Econometrica, 22(2), 147-161.

Type

Journal article

Intellectual base

Primary research

Year

1954

Volume

22

Issue

2

Pages

147-161

Link

https://www.jstor.org/stable/1907539

Cited from

economics_finance

Cited by

2 citations across 2 artifacts.

Primes

• Price Mechanism
  • The modern formalization is Arrow and Debreu's 1954 Econometrica paper on existence of a competitive equilibrium (McKenzie's independent 1954 Econometrica proof is conventionally co-cited

Domain-specific

• Competitive Equilibrium
  • Production economy. Firms maximize profit, households choose consumption using endowment and profit income, and product/factor markets clear.

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