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incomplete equilibrium

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  • incomplete reaction — noun (chem) A process in which a reversible reaction is allowed to reach equilibrium and from which a mixture of reactants and reaction products is obtained • • • Main Entry: ↑incomplete …   Useful english dictionary

  • Incomplete markets — The Theory of Incomplete Markets is an extension of the general equilibrium approach to intertemporal economies with uncertainty, where the set of available contracts which can be used to transfer wealth across time is limited relative to the… …   Wikipedia

  • 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

  • Vapor-liquid equilibrium — Vapor liquid equilibrium, abbreviated as VLE by some, is a condition where a liquid and its vapor (gas phase) are in equilibrium with each other, a condition or state where the rate of evaporation (liquid changing to vapor) equals the rate of… …   Wikipedia

  • Quantal response equilibrium — infobox equilibrium name=Quantal response equilibrium subsetof = Bayes Nash equilibrium supersetof = Nash equilibrium, Logit equilibrium discoverer = Richard McKelvey and Thomas Palfrey usedfor = Non cooperative games example = Traveler s… …   Wikipedia

  • Subgame perfect equilibrium — Infobox equilibrium name=Subgame Perfect Equilibrium subsetof=Nash equilibrium intersectwith=Evolutionarily stable strategy discoverer=Reinhard Selten usedfor=Extensive form games example=Ultimatum gameIn game theory, a subgame perfect… …   Wikipedia

  • Sunspot equilibrium — In economics, a sunspot equilibrium is an economic equilibrium where the market outcome or allocation of resources varies in a way unrelated to economic fundamentals. In other words, the outcome depends on an extrinsic random variable, i.e. on… …   Wikipedia

  • David Cass — For the British footballer, see David Cass (footballer). David Cass Born January 19, 1937(1937 01 19) Honululu, Hawai …   Wikipedia

  • Bayesian game — In game theory, a Bayesian game is one in which information about characteristics of the other players (i.e. payoffs) is incomplete. Following John C. Harsanyi s framework, a Bayesian game can be modelled by introducing Nature as a player in a… …   Wikipedia

  • Sonnenschein–Mantel–Debreu theorem — The Sonnenschein–Mantel–Debreu theorem (named after Gérard Debreu, Rolf Ricardo Mantel, and Hugo Freund Sonnenschein) is a result in general equilibrium economics. It states that the excess demand function for an economy is not restricted by the… …   Wikipedia

  • Economics — This article is about the social science. For other uses, see Economics (disambiguation). For a topical guide to this subject, see Outline of economics. Economics …   Wikipedia

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