Walrasian

comparative more Walrasian · superlative most Walrasian

1. economicsOf or pertaining to the theories of the 19th-century French economist Léon Walras.
2. economicsRelating to a tatonnement process for achieving exchange equilibrium.

   a Walrasian auction

   1 more example

   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.

   1970, Edmund S. Phelps, “Introduction: The New Microeconomics in Employment and Inflation Theory”, in Edmund S. Phelps, editor, Microeconomic Foundations of Employment and Inflation Theory, New York: W. W. Norton & Company Inc., page 6 of 1-23