Edgeworth box
E953115
The Edgeworth box is a graphical tool in microeconomics used to analyze the distribution of resources and the efficiency of allocations between two consumers or goods.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Edgeworth box canonical | 1 |
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
economic model
ⓘ
graphical representation ⓘ microeconomic analysis tool ⓘ |
| alsoKnownAs | Edgeworth–Bowley box NERFINISHED ⓘ |
| appliesTo |
pure exchange economies
ⓘ
two-agent economies ⓘ |
| assumes |
fixed aggregate endowment of goods
ⓘ
two consumers ⓘ two goods ⓘ well-behaved preferences ⓘ |
| canBeExtendedTo |
analysis with production possibility frontiers
ⓘ
production economies ⓘ |
| component |
contract curve
ⓘ
endowment point ⓘ indifference curves of first consumer ⓘ indifference curves of second consumer ⓘ origin of first consumer at lower-left corner ⓘ origin of second consumer at upper-right corner ⓘ |
| field | microeconomics ⓘ |
| historicalPeriod | late 19th century economic theory ⓘ |
| illustrates |
Pareto-efficient allocations
ⓘ
Pareto-improving reallocations ⓘ marginal rate of substitution equality at efficiency ⓘ |
| namedAfter | Francis Ysidro Edgeworth NERFINISHED ⓘ |
| relatedTo |
Walrasian equilibrium
NERFINISHED
ⓘ
bargaining theory ⓘ contract curve ⓘ core of an economy ⓘ general equilibrium theory ⓘ indifference curve analysis ⓘ |
| represents |
allocations of two goods between two agents
ⓘ
feasible allocations ⓘ initial endowments ⓘ mutually beneficial trades ⓘ |
| usedFor |
analyzing bargaining outcomes
ⓘ
analyzing distribution of resources ⓘ analyzing efficiency of allocations ⓘ analyzing exchange economies ⓘ analyzing two-person, two-good exchange ⓘ illustrating contract curves ⓘ illustrating core of an economy ⓘ studying Pareto efficiency ⓘ teaching general equilibrium concepts ⓘ |
| usedIn |
graduate microeconomic theory courses
ⓘ
intermediate microeconomics textbooks ⓘ |
| visualDimension | two-dimensional diagram ⓘ |
| visualizedAs | rectangle ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.