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Marie-Esprit-Léon Walras (French:; 16 December 1834 – 5 January 1910) was a French mathematical economist and Georgist. He formulated the marginal theory of value (independently of William Stanley Jevons and Carl Menger) and pioneered the development of general equilibrium theory.
Léon Walras, né le 16 décembre 1834 à Évreux et mort le 5 janvier 1910 à Montreux, est un économiste français dont la carrière universitaire s'est entièrement déroulée à l'Université de Lausanne en Suisse.
Léon Walras (born December 16, 1834, Évreux, France—died January 5, 1910, Clarens, near Montreux, Switzerland) was a French-born economist whose work Éléments d’économie politique pure (1874–77; Elements of Pure Economics) was one of the first comprehensive mathematical analyses of general economic equilibrium.
Leon Walras. 1834-1910. S eparately but almost simultaneously with William Stanley Jevons and Carl Menger, French economist Leon Walras developed the idea of marginal utility and is thus considered one of the founders of the “marginal revolution.”.
Jun 8, 2018 · Léon Walras (1834-1910), whose full name was Marie Esprit Léon Walras (the final “s” is sounded), is celebrated among economists and econometricians as the first to have formulated a multiequational general equilibrium model of economic relationships.
The French economist Marie Esprit Léon Walras (1834-1910) influenced modern economic theory by his discovery of the general equilibrium theory, which was designed to include within a single logically coherent model the theories of exchange, production, capital, and money.
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The demonstration that price and quantity were uniquely determined for each commodity is considered one of Walras's greatest contributions to economic science. But Walras was aware that the mere fact that such a system of equations could be solved mathematically for an equilibrium did not mean that in the real world it would ever reach that ...
