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competitive equilibrium

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  • Competitive equilibrium — Competitive market equilibrium is the traditional concept of economic equilibrium, appropriate for the analysis of commodity markets with flexible prices and many traders, and serving as the benchmark of efficiency in economic analysis. It relies …   Wikipedia

  • Recursive competitive equilibrium — In macroeconomics, recursive competitive equilibrium (RCE) is an equilibrium concept. It has been widely used in exploring a wide variety of economic issues including business cycle fluctuations, monetary and fiscal policy, trade related… …   Wikipedia

  • Recursive Competitive Equilibrium - RCE — An equilibrium concept associated with dynamic programs. Recursive competitive equilibrium (RCE) is characterized by time invariant equilibrium decision rules that specify actions as a function of a limited number of state variables, which… …   Investment dictionary

  • Equilibrium — is the condition of a system in which competing influences are balanced and it may refer to:cienceBiology* Equilibrioception, the sense of balance present in humans and animals * Homeostasis, the ability of an open system, especially living… …   Wikipedia

  • Competitive Equilibriums — An equilibrium condition where the interaction of profit maximizing producers and utility maximizing consumers in competitive markets with freely determined prices will give rise to an equilibrium price. At this equilibrium price, the quantity… …   Investment dictionary

  • Competitive heterogeneity — is a concept from strategic management that examines why industries do not converge on one best way of doing things. Microeconomics predicts that competition will result in industries composed of identical firms offering identical products at… …   Wikipedia

  • Competitive Lotka–Volterra equations — The competitive Lotka–Volterra equations are a simple model of the population dynamics of species competing for some common resource. They can be further generalised to include trophic interactions. Contents 1 Overview 1.1 Two species 1.2 N… …   Wikipedia

  • Competitive Pricing — Setting the price of a product or service based on what the competition is charging. Competitive pricing is used more often by businesses selling similar products, since services can vary from business to business while the attributes of a… …   Investment dictionary

  • General equilibrium — theory is a branch of theoretical microeconomics. It seeks to explain the behavior of supply, demand and prices in a whole economy with several or many markets. It is often assumed that agents are price takers and in that setting two common… …   Wikipedia

  • Economic equilibrium — Price of market balance: P price Q quantity of good S supply D demand P0 price of market balance A surplus of demand when P<P0 B surplus of supply when P>P0 In economics, economic equilibrium is a state of the world where economic forces… …   Wikipedia

  • Radner Equilibrium — A theory suggesting that if economic decision makers have unlimited computational capacity for choice among strategies, then even in the face of uncertainty about the economic environment, an optimal allocation of resources based on competitive… …   Investment dictionary

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