Gerard Debreu

AAA

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.

INVESTOPEDIA EXPLAINS '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.

RELATED TERMS
  1. Keynesian Economics

    An economic theory of total spending in the economy and its effects ...
  2. Economist

    An expert who studies the relationship between a society's resources ...
  3. Market Economy

    An economic system in which economic decisions and the pricing ...
  4. Neoclassical Economics

    An approach to economics that relates supply and demand to an ...
  5. Free Enterprise

    An economic system where few restrictions are placed on business ...
  6. Austrian School

    An economic school of thought that originated in Vienna during ...
Related Articles
  1. How Influential Economists Changed Our ...
    Fundamental Analysis

    How Influential Economists Changed Our ...

  2. The Austrian School Of Economics
    Economics

    The Austrian School Of Economics

  3. Adam Smith: The Father Of Economics
    Economics

    Adam Smith: The Father Of Economics

  4. The Uncertainty Of Economics: Exploring ...
    Economics

    The Uncertainty Of Economics: Exploring ...

Hot Definitions
  1. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  2. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
  3. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  4. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  5. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  6. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
Trading Center