Meaning of Walrasian | Babel Free
Definitions
- Of or pertaining to the theories of the 19th-century French economist Léon Walras.
- Relating to a tatonnement process for achieving exchange equilibrium.
Examples
“a Walrasian auction”
“The economy is thus in a kind of non-Walrasian equilibrium in which wage rates are correctly guessed. But they are never truly known as in the Walrasian world; a change of some island’s wage would not be immediately learned.”
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.