Gerard Debreu

Gerard Debreu (1921–2004) was a French-American economist. He was a French-American mathematician and economist. He proved mathematically that market prices can reach a balance where supply equals demand. Gerard won the Nobel Memorial Prize in Economic Sciences in 1983 for work in General Equilibrium Theory.

Early Life and Education

Gerard Debreu was born in 1921. He studied economics and showed great talent from an early age. He went on to work at University of California, Berkeley, where he did most of his important research.

Work and Research

Gerard Debreu's most important contribution was in the field of General Equilibrium Theory. The Nobel Committee gave him the prize "For having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium".

His ideas changed how economists think about general equilibrium theory. He developed new mathematical and analytical tools that other economists still use today. His work at University of California, Berkeley helped make these ideas famous around the world.

Nobel Prize

In 1983, Gerard Debreu received the Nobel Memorial Prize in Economic Sciences. He was awarded the prize for his work in General Equilibrium Theory.

The Nobel Committee said the award was given: For having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium.

He shared the prize with other economists who worked on similar problems.

Legacy

Gerard Debreu's ideas are still very important in economics today. Many of his theories are taught in universities and used by economists, governments, and businesses around the world.

External Links

• Nobel Prize official website
• Nobel Prize 1983 - Economic Sciences