This account has so far been in partial equilibrium terms.

In other words, we may continue with a partial equilibrium framework.

The implications for less partial equilibrium behaviour are less clear.

"Partial equilibrium - moving one variable while holding all else constant - is an interesting but a hazardous basis for prediction."

For example, buyers and sellers are two common types of agents in partial equilibrium models of a single market.

The Marshallian theory of supply and demand is an example of partial equilibrium analysis.

Originally presented in terms of partial equilibrium analysis, it has been extended in two principal directions.

Equilibrium may also be economy-wide or general, as opposed to the partial equilibrium of a single market.

This English school has developed the theories of the partial equilibrium and has insisted on markets' failures.

Most generally, the general equilibrium final results will differ little from those attained from a partial equilibrium analysis.

Even though the theory of the second best was developed for the Walrasian general equilibrium system, it also applies to partial equilibrium cases.

It is not always the case that a partial equilibrium welfare analysis will show unequivocally that more 'competition' in this form is better.

In housing economics, the elemental unit of analysis is not the individual as it is in standard partial equilibrium models.

Partial equilibrium as the name suggests takes into consideration only a part of the market, ceteris paribus to attain equilibrium.

Both draw on partial equilibrium analysis (supply and demand), urban economics, spatial economics, extensive research, surveys and finance.

Partial equilibrium analysis is adequate when the first-order effects of a shift in the demand curve do not shift the supply curve.

The L d curve in Figure 2.6 is a partial equilibrium depiction of one of the outcomes of this more general optimization procedure.

In terms of the simpler partial equilibrium framework illustrated in Figure 8.6, both firms and households are off their notional labour demand and supply functions.

"What a cleaned-up version of Sraffa (1926) establishes is how nearly empty are all of Marshall's partial equilibrium boxes.

The standard textbook monopsony model refers to static partial equilibrium in a labor market with just one employer who pays the same wage to all its workers.

He was committed to partial equilibrium models over general equilibrium on the grounds that the inherently dynamical nature of economics made the former more practically useful.

Analysis of change in a single market often proceeds from the simplifying assumption that behavioral relations in other markets remain unchanged, that is, partial equilibrium analysis.

Joan Robinson's work on imperfect competition, at least, was a response to certain problems of Marshallian partial equilibrium theory highlighted by Piero Sraffa.

In partial equilibrium the welfare effects on consumers who purchase and the producers who produce in the market is distinguished by consumer surplus and producer surplus.

The Supply and demand model is a partial equilibrium model where the clearance on the market of some specific goods is obtained independently from prices and quantities in other markets.