equilibrium theory

equilibrium theory

[‚ē·kwə′lib·rē·əm ‚thē·ə·rē]
(oceanography)
An ocean water model which assumes instantaneous response of water bodies to the tide-producing forces of the moon and sun to form an equilibrium surface, and disregards the effects due to friction, inertia, and irregular distribution of land masses.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
In section 2, we briefly recap the theoretical foundations of NGDP targeting in monetary equilibrium theory. This discussion is important for understanding why proponents of NGDP targeting believe that, in the event of shocks, a return to the preshock trend path is credible to market actors.
Economists do simultaneous equations and teach general equilibrium theory, and by the time they are done, there is very little room left to incorporate other factors.
This kind of theory is opaque to an equilibrium theory. Tanzi can assert the existence of termites, but their existence is an assumption of his model and mode of thinking.
Contrary to Hayek, who thought that general equilibrium theory could be corrected by grafting subjectivist insights onto it, Mises perceived that the deficiency of the general equilibrium construct stemmed from its fallacious treatment of money.
This theory integrates Keynesian economics with general equilibrium theory in a new way.
Therefore, the purpose of this paper is to build unified methods applicative to different sections of the composite column by the idea of Unified Theory of CFST and limit equilibrium theory. The focus of this study is to investigate three different technology CFRPs to strengthen CFST stub columns through a comparative study of three different confinement types: outer circular CFRP, inner circular CFRP, and outer square CFRP.
The traveler route choice behavior reflects traffic assignment results, and all traditional traffic assignments are based on traffic equilibrium theory. However, whether the traffic network achieves equilibrium requires further discussion.
Carey quoted "price" and "quantity" of the non equilibrium theory into the study of the optimal model of equilibrium with dual form.
The idea was not formalized until many years later with the development of valuation equilibrium theory. Walrasian general equilibrium theory was a major advance in economic theory.
She characterizes a 'standard economics' with three 'pillars': Neoclassical microeconomics or Walrasian general equilibrium theory, macroeconomics and econometrics.
In 1972, he and Kenneth Arrow were awarded a Nobel Prize in economics "for their contribution to general equilibrium theory and welfare theory."