Gerard Debreu

DEFINITION of 'Gerard Debreu'

A French-American economist and mathematician and winner of the 1983 Nobel Memorial Prize in Economics for his research in general equilibrium theory. Gerard Debreu became famous for his 1959 book, "Theory of Value: An Axiomatic Analysis of Economic Equilibrium", which explained how supply and demand could be in balance throughout the entire economy, not just in a single market.

BREAKING DOWN 'Gerard Debreu'

Debreu was born in France in 1921 and died in 2004. He served briefly in the French army and became a U.S. citizen in 1975. He spent most of his career as a professor of mathematics and economics at the University of California at Berkeley.