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CEE Biographies

Vilfredo Pareto

  Pareto is best known for two concepts that are named after him. The first and most familiar is the concept of Pareto optimality. A Pareto-optimal allocation of resources is achieved when it is not possible to make anyone better off without making someone else worse off. The second is Pareto’s law of income distribution. […]

Gerard Debreu

  Gerard Debreu’s contributions are in general equilibrium theory—highly abstract theory about whether and how each market reaches equilibrium. In a famous paper coauthored with Kenneth Arrow and published in 1954, Debreu proved that under fairly unrestrictive assumptions, prices exist that bring markets into equilibrium. In his 1959 book, The Theory of Value, Debreu introduced […]

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