> ## Documentation Index
> Fetch the complete documentation index at: https://docs.fincept.in/llms.txt
> Use this file to discover all available pages before exploring further.

# Walrasian Equilibrium Solver

> Find competitive equilibrium prices and allocations in a 2-consumer, 2-good exchange economy with Cobb-Douglas preferences. Uses iterative tâtonnement process to find prices where markets clear (excess demand = 0). Returns equilibrium price vector and optimal allocations for each consumer. Essential for general equilibrium analysis and welfare economics. [Tier: STANDARD, Credits: 2]



## OpenAPI

````yaml api-specs/economics.json post /quantlib/economics/equilibrium/walrasian
openapi: 3.1.0
info:
  title: FinceptQuantLib API - Economics
  description: >-
    Economics module endpoints for FinceptQuantLib API - general equilibrium,
    game theory, auctions, and utility functions
  version: 3.0.0
  contact:
    name: Fincept API Support
    url: https://fincept.in
servers:
  - url: https://api.fincept.in
    description: Fincept API Production Server
security:
  - APIKeyHeader: []
tags:
  - name: quantlib-economics
    description: >-
      Economics module - general equilibrium, game theory, auctions, and utility
      theory
    x-displayName: Economics
paths:
  /quantlib/economics/equilibrium/walrasian:
    post:
      tags:
        - quantlib-economics
      summary: Walrasian Equilibrium Solver
      description: >-
        Find competitive equilibrium prices and allocations in a 2-consumer,
        2-good exchange economy with Cobb-Douglas preferences. Uses iterative
        tâtonnement process to find prices where markets clear (excess demand =
        0). Returns equilibrium price vector and optimal allocations for each
        consumer. Essential for general equilibrium analysis and welfare
        economics. [Tier: STANDARD, Credits: 2]
      operationId: walrasian_equilibrium_quantlib_economics_equilibrium_walrasian_post
      requestBody:
        content:
          application/json:
            schema:
              type: object
              required:
                - endowments
                - alphas
              properties:
                endowments:
                  type: array
                  description: >-
                    Initial endowments for each consumer [[e1_good1, e1_good2],
                    [e2_good1, e2_good2]]
                  items:
                    type: array
                    items:
                      type: number
                      minimum: 0
                    minItems: 2
                    maxItems: 2
                  minItems: 2
                  maxItems: 2
                  example:
                    - - 10
                      - 5
                    - - 5
                      - 10
                alphas:
                  type: array
                  description: >-
                    Cobb-Douglas preference parameters for each consumer
                    [alpha1, alpha2]
                  items:
                    type: number
                    minimum: 0
                    maximum: 1
                  minItems: 2
                  maxItems: 2
                  example:
                    - 0.6
                    - 0.4
                initial_prices:
                  type: array
                  description: >-
                    Starting prices for iteration [p1, p2]. If null, uses [1.0,
                    1.0]
                  items:
                    type: number
                    minimum: 0
                  minItems: 2
                  maxItems: 2
                  example:
                    - 1
                    - 1
                  nullable: true
                max_iter:
                  type: integer
                  description: Maximum number of iterations for solver
                  minimum: 1
                  default: 1000
                  example: 1000
                tol:
                  type: number
                  description: Convergence tolerance for excess demand
                  minimum: 0
                  default: 0.000001
                  example: 0.000001
            example:
              endowments:
                - - 10
                  - 5
                - - 5
                  - 10
              alphas:
                - 0.6
                - 0.4
              initial_prices:
                - 1
                - 1
              max_iter: 1000
              tol: 0.000001
        required: true
      responses:
        '200':
          description: Successful Response
          content:
            application/json:
              schema:
                type: object
                properties:
                  success:
                    type: boolean
                    example: true
                  data:
                    type: object
                    properties:
                      equilibrium_prices:
                        type: array
                        description: Walrasian equilibrium prices [p1*, p2*] (normalized)
                        items:
                          type: number
                        example:
                          - 1
                          - 1
                      allocations:
                        type: array
                        description: >-
                          Equilibrium allocations [[x1_consumer1, x2_consumer1],
                          [x1_consumer2, x2_consumer2]]
                        items:
                          type: array
                          items:
                            type: number
                        example:
                          - - 9
                            - 6
                          - - 6
                            - 9
              example:
                success: true
                data:
                  equilibrium_prices:
                    - 1
                    - 1
                  allocations:
                    - - 9
                      - 6
                    - - 6
                      - 9
        '401':
          $ref: '#/components/responses/UnauthorizedError'
        '402':
          $ref: '#/components/responses/InsufficientTierError'
        '422':
          description: Validation Error
          content:
            application/json:
              schema:
                type: object
                properties:
                  detail:
                    type: array
                    items:
                      type: object
              example:
                detail:
                  - loc:
                      - body
                      - endowments
                    msg: field required
                    type: value_error.missing
      security:
        - APIKeyHeader: []
components:
  responses:
    UnauthorizedError:
      description: Authentication information is missing or invalid
      content:
        application/json:
          schema:
            type: object
            properties:
              detail:
                type: string
                example: Invalid API key
    InsufficientTierError:
      description: API tier insufficient for this endpoint
      content:
        application/json:
          schema:
            type: object
            properties:
              detail:
                type: string
                example: Endpoint requires Basic tier or higher
  securitySchemes:
    APIKeyHeader:
      type: apiKey
      in: header
      name: X-API-Key
      description: >-
        API key for authentication. Get your key at
        https://api.fincept.in/auth/register

````