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They write new content and verify and edit content received from contributors.</div><div data-popper-arrow="true"></div></div><div class="caption mt-5 d-flex" data-testid="ContentDateAndHistory"></div></div><div class="TableOfContents_TableOfContents__g8WLR d-none" data-testid="TableOfContents"><ul class="TableOfContents_TableOfContentsList__yU1tL p-0 mt-0 mb-0 list-unstyled pl-5" style="--category-color:var(--blue-strong)"></ul><div class="font-14 font-weight-bold mt-20">Read More</div><div class="TableOfContents_RelatedArticle__yK5m6" data-testid="RelatedContents"><a href="/money/economics" class="link-black" data-testid="RelatedContent-1-178548-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" src="https://cdn.britannica.com/35/99635-050-85CE42AA/Diagram-flow-goods-money-services-economy.jpg?c=crop&h=40&w=50" alt="economics" data-testid="IrisImage"/></div><div class="card-body" data-testid="CardBody"><div class="font-14">economics</div></div></div></a><a href="/money/Esther-Duflo" class="link-black" data-testid="RelatedContent-1-2155486-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" src="https://cdn.britannica.com/43/213543-050-AA0E39E2/Nobel-laureates-economic-sciences-Michael-Kremer-Esther-Duflo-Abhijit-Banerjee-2019.jpg?c=crop&h=40&w=50" alt="Abhijit Banerjee, Esther Duflo, and Michael Kremer" data-testid="IrisImage"/></div><div class="card-body" data-testid="CardBody"><div class="font-14">Esther Duflo</div></div></div></a><a href="/money/Simon-Kuznets" class="link-black" data-testid="RelatedContent-1-325734-1"><div class="card card-sm card-horizontal my-15" data-testid="Card"><div class="card-media" data-testid="CardMedia" style="aspect-ratio:50/40"><img loading="lazy" 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class="font-18 ml-5">Table Of Contents</span></button><span hidden="" style="position:fixed;top:1px;left:1px;width:1px;height:0;padding:0;margin:-1px;overflow:hidden;clip:rect(0, 0, 0, 0);white-space:nowrap;border-width:0;display:none"></span><div class="font-serif font-18 lh-lg dropCapArticle"><div class="QuickFacts_quickFacts__FMF2_ border rounded p-20 mb-20 ml-sm-20 mx-auto font-14 bg-white font-sans-serif"><div class="" data-testid="QuickFacts-Facts"><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">born:</dt><dd>July 4, 1921, <a href="/place/Calais-France">Calais</a>, <a href="/place/France">France</a></dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">died:</dt><dd>December 31, 2004, <a href="/place/Paris">Paris</a> (aged 83)</dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Awards And Honors:</dt><dd><a href="/topic/Nobel-Prize">Nobel Prize (1983)</a></dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative mb-10 line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Notable Works:</dt><dd><a href="/topic/Theory-of-Values-An-Axiomatic-Analysis-of-Economic-Equilibrium">“Theory of Values: An Axiomatic Analysis of Economic Equilibrium”</a></dd></dl></div><div class="QuickFacts_fact__5ukCJ position-relative line-clamp clamp-3"><dl class=""> <dt class="font-weight-bold text-capitalize mr-5">Subjects Of Study:</dt><dd><a href="/money/econometrics-economic-analysis">econometrics</a></dd><dd><a href="/topic/equilibrium-economics">equilibrium</a></dd></dl></div></div></div><section class="HTMLContent_HTMLContent__cOyPs" data-testid="HTMLContent"><span id="ref154759-1" data-level="1" /><p><strong><span id="ref256140" />Gerard Debreu</strong> (born July 4, 1921, <a href="/place/Calais-France">Calais</a>, France—died December 31, 2004, Paris) was a French-born American economist, who won the 1983 <a href="/topic/Nobel-Prize">Nobel Prize</a> in Economics for his fundamental contribution to the theory of general equilibrium.</p><p>In 1950 Debreu joined the Cowles Commission for Research in Economics (now the Cowles Foundation for Research in Economics) at the <a href="/topic/University-of-Chicago">University of Chicago</a>, moving with the commission to <a href="/topic/Yale-University">Yale University</a> in New Haven, Connecticut, in 1955. He received his doctorate in <a href="/money/economics">economics</a> from the <a href="/topic/Universities-of-Paris-I-XIII">University of Paris</a> in 1956. He later became a professor of economics (1962) and mathematics (1975) at the University of California at Berkeley, where he taught until 1991. Debreu became a U.S. citizen in 1975.</p><p>Debreu’s classic monograph, <em><span id="ref256141" />Theory of Value: An Axiomatic Analysis of Economic Equilibrium</em>, was published in 1959. In it Debreu provided the mathematical underpinnings for the phenomenon of <span id="ref321445" /><a href="/topic/equilibrium-economics">equilibrium</a> in <a href="/money/supply-and-demand">supply and demand</a> that was first articulated (as the “invisible hand” that leads self-seeking men unwittingly to aid society) by <a href="/biography/Adam-Smith">Adam Smith</a> in 1776. Debreu also developed methods by which to analyze the factors that influence equilibrium.</p></section><a class="QuizLink_quizLink__4oGHT shadow-sm border rounded p-10 mx-auto mb-20 mw-600 d-flex" href="/quiz/economics-news" data-testid="QuizLink"><img loading="lazy" src="https://cdn.britannica.com/37/129537-131-759449E7/stock-market-ticker-blog-society-history-wall-2009.jpg" alt="green and blue stock market ticker stock ticker. Hompepage blog 2009, history and society, financial crisis wall street markets finance stock exchange" data-testid="IrisImage" class="rounded-sm mr-15"/><div class="d-flex flex-column font-weight-semi-bold font-sans-serif"><div class="QuizLink_quizLinkCategory__8kTHA font-14 text-white rounded-sm bg-green">Britannica Quiz</div><div class="QuizLink_quizLinkTitle__OjAOH mt-5">Economics News</div></div></a><section class="HTMLContent_HTMLContent__cOyPs" data-testid="HTMLContent"><p>The recipient of numerous awards, Debreu was made an officer of the French <a href="/topic/Legion-of-Honour">Legion of Honour</a> in 1976 and was elected a member of the <a href="/topic/National-Academy-of-Sciences-American-organization">National Academy of Sciences</a> in 1977.</p></section><span class="Signature_signature__PzeTY d-block border-left font-italic pb-5 pl-10 mt-10 font-14" data-testid="Signature">This article was most recently revised and updated by <a 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economist, who won the 1983 \u003ca href=\"/topic/Nobel-Prize\"\u003eNobel Prize\u003c/a\u003e in Economics for his fundamental contribution to the theory of general equilibrium.\u003c/p\u003e\u003c!--[P-1]--\u003e\u003cp\u003eIn 1950 Debreu joined the Cowles Commission for Research in Economics (now the Cowles Foundation for Research in Economics) at the \u003ca href=\"/topic/University-of-Chicago\"\u003eUniversity of Chicago\u003c/a\u003e, moving with the commission to \u003ca href=\"/topic/Yale-University\"\u003eYale University\u003c/a\u003e in New Haven, Connecticut, in 1955. He received his doctorate in \u003ca href=\"/money/economics\"\u003eeconomics\u003c/a\u003e from the \u003ca href=\"/topic/Universities-of-Paris-I-XIII\"\u003eUniversity of Paris\u003c/a\u003e in 1956. He later became a professor of economics (1962) and mathematics (1975) at the University of California at Berkeley, where he taught until 1991. Debreu became a U.S. citizen in 1975.\u003c/p\u003e\u003c!--[P-2]--\u003e\u003cp\u003eDebreu’s classic monograph, \u003cem\u003e\u003cspan id=\"ref256141\" /\u003eTheory of Value: An Axiomatic Analysis of Economic Equilibrium\u003c/em\u003e, was published in 1959. In it Debreu provided the mathematical underpinnings for the phenomenon of \u003cspan id=\"ref321445\" /\u003e\u003ca href=\"/topic/equilibrium-economics\"\u003eequilibrium\u003c/a\u003e in \u003ca href=\"/money/supply-and-demand\"\u003esupply and demand\u003c/a\u003e that was first articulated (as the “invisible hand” that leads self-seeking men unwittingly to aid society) by \u003ca hre"])</script><script>self.__next_f.push([1,"f=\"/biography/Adam-Smith\"\u003eAdam Smith\u003c/a\u003e in 1776. Debreu also developed methods by which to analyze the factors that influence equilibrium.\u003c/p\u003e\u003c!--[P-3]--\u003e"])</script><script>self.__next_f.push([1,"7:[\"$\",\"$L18\",null,{\"initialArticle\":{\"contentInfo\":{\"contentId\":\"1-154759-1\",\"browserTitle\":\"Gerard Debreu | Nobel Prize, Mathematical Economics, Game Theory\",\"metaDescription\":null,\"description\":\"Gerard Debreu was a French-born American economist, who won the 1983 Nobel Prize in Economics for his fundamental contribution to the theory of general equilibrium. 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