Excess Demand Function: Market Pressure
Excess demand function analysis measures shortage, surplus, and market-clearing pressure across connected markets in general equilibrium.
Market Clearing
Tatonnement Process: Price Adjustment Toward Equilibrium
Tatonnement process analysis explains how prices adjust to excess demand and why equilibrium stability requires more than market-clearing existence.
Walras law: Market Excess Demands Balance
Walras law shows why the value of excess demand across all markets must balance when agents obey budget constraints.