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Market equilibrium |
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Market equilibriumEquality of supply and demand. See equilibrium.Similar MatchesNash equilibriumNash equilibriumAn equilibrium in game theory in which each player's action is optimal given the actions of the other players. E.g., in a tariff-and-retaliation game, with each country able to improve its terms of trade with a tariff, zero tariffs are not Nash, since each can do better by raising its tariff. A Nash equilibrium, with positive tariffs, is likely to be inferior to free trade for both. Equilibrium positionEquilibrium positionSame as equilibrium level, though perhaps of several variables at once, perhaps as displayed in a graph. Equilibrium exchange rateEquilibrium exchange rateExchange rate at which demand for a currency is equal to the supply of the currency in the economy. Two cone equilibriumTwo cone equilibriumA free-trade equilibrium in the Heckscher-Ohlin Model in which prices are such that all goods cannot be produced within a single country, and instead there are two diversification cones. This, or a multi-cone equilibrium, will arise if countries' factor endowments are sufficiently dissimilar compared to factor intensities of industries. Contrasts with one cone equilibrium. Computable general equilibriumComputable general equilibriumRefers to economic models of microeconomic behavior in multiple markets of one or more economies, solved computationally for equilibrium values or changes due to specified policies. The equations are anchored with data from the countries being modeled, while behavioral parameters are either assumed or adapted from estimates elsewhere. Further SuggestionsEquilibrium levelOne cone equilibrium Multi-cone equilibrium Partial equilibrium Equilibrium Balance of payments equilibrium Equilibrium Disequilibrium Equilibrium rate of interest Equilibrium price General equilibrium |
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