The Dupuit–Marshall Theory of Competitive Equilibrium

Working with the classical expressions of demand, supply and market adjustments, the French engineer Jules Dupuit developed a model of competitive market adjustments in different time dimensions that anticipated Marshall’s ‘period analysis’ on all important points. Dupuit’s attempt to handle the complexity of economic phenomena in a scientific fashion, by utilizing the ceteris paribus method, and the integration of this method with the ‘facts’ of production in a ‘typical’ industry, generated a huge payoff for subsequent generations of economists. The payoff was enhanced by Marshall’s refinements, and realized by Marshall’s teaching, which took root in so many able students and disciples

Ceteris paribus · Economics · Mathematical economics · Microeconomics · Neoclassical economics · Production (economics) · Stochastic game · Supply and demand · Economic theories and models · Economic Theory and Institutions · Political Economy and Marxism

• Ethics, Engineering, and Natural Monopoly

  Robert B Ekelund, Robert F Hébert•History of Political Economy•2003

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• TheEconomistDupuit on Theory, Institutions, and Policy

  Robert B Ekelund•History of Political Economy•2000

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• Essays on Philosophy and Economic Methodology

  D S G Pollock, Daniel M Hausman•The Economic Journal•1994

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• The Place of Marshall's Principles in the Development of Economic Theory

  G F Shove•The Economic Journal•1942

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• Geometric Analogies and Market Demand Estimation

  Robert B Ekelund, Mark Thornton•History of Political Economy•1991

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