Arrow–Debreu model

E930668

economic model general equilibrium model microeconomic theory concept

The Arrow–Debreu model is a foundational general equilibrium framework in economics that rigorously characterizes how competitive markets can allocate resources efficiently across time and under uncertainty.

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All labels observed (1)

Label	Occurrences
Arrow–Debreu model canonical	1

Statements (48)

Predicate	Object
instanceOf	economic model ⓘ general equilibrium model ⓘ microeconomic theory concept ⓘ
assumes	complete information ⓘ local non-satiation of preferences ⓘ no externalities ⓘ no increasing returns to scale ⓘ
basedOn	complete markets assumption ⓘ convex preferences ⓘ convex production sets ⓘ perfect competition assumption ⓘ price-taking behavior ⓘ rational agents ⓘ
characterizes	Pareto efficiency of competitive equilibrium ⓘ conditions for existence of competitive equilibrium ⓘ
describes	allocation under uncertainty ⓘ competitive equilibrium ⓘ intertemporal allocation of resources ⓘ resource allocation ⓘ
developedBy	Gérard Debreu NERFINISHED ⓘ Kenneth J. Arrow NERFINISHED ⓘ
field	economics ⓘ general equilibrium theory ⓘ microeconomics ⓘ
formalizedIn	Arrow–Debreu–McKenzie model NERFINISHED ⓘ
implies	First Welfare Theorem NERFINISHED ⓘ Second Welfare Theorem NERFINISHED ⓘ
includes	commodities ⓘ consumers ⓘ contingent commodities ⓘ firms ⓘ states of nature ⓘ time periods ⓘ
influenced	asset pricing theory ⓘ macroeconomic general equilibrium models ⓘ modern financial economics ⓘ welfare economics ⓘ
namedAfter	Gérard Debreu NERFINISHED ⓘ Kenneth J. Arrow NERFINISHED ⓘ
relatedTo	Walrasian general equilibrium NERFINISHED ⓘ complete markets ⓘ contingent claims theory ⓘ expected utility theory ⓘ intertemporal choice ⓘ
uses	Walrasian equilibrium concept NERFINISHED ⓘ commodity space ⓘ price vector ⓘ state-contingent claims ⓘ

How these facts were elicited

The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.

Instruction

You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10.

# Requirements
- If you don't know the subject at all, return an empty list.
- If the subject is not a named entity, return an empty list.
- Include at least one triple where predicate is "instanceOf".
- Do not get too wordy.
- Separate several objects into multiple triples with one object.

Input

Subject: Arrow–Debreu model
Description of subject: The Arrow–Debreu model is a foundational general equilibrium framework in economics that rigorously characterizes how competitive markets can allocate resources efficiently across time and under uncertainty.

Referenced by (1)

Full triples — surface form annotated when it differs from this entity's canonical label.

Walrasian market-clearing framework → relatedConcept → Arrow–Debreu model ⓘ