Gérard Debreu

Gérard Debreu was a French-American economist and mathematician renowned for his rigorous work on how markets function. He developed mathematical models demonstrating that, under certain conditions, supply and demand in competitive markets will naturally reach an equilibrium where resources are efficiently allocated. His work provided a formal foundation for understanding economic stability and efficiency. In 1983, he received the Nobel Prize in Economic Sciences for these contributions, which helped shape modern economic theory by linking mathematical precision with real-world market behavior.