A Walrasian auction, introduced by Leon Walras,'s a type of simultaneous auction where each agent calculates its demand for the good at every possible price and submits this to an auctioneer. The price's then set so that the total demand across all agents equals the total amount of the good. Thus, a Walrasian auction perfectly matches the supply and the demand. Walras suggests that equilibrium will be achieved through a process of tâtonnement or groping. Walrasian auctioneer The Walrasian a… (More on Tatonnement)