Nash and Walras equilibrium via Brouwer (Q1404142): Difference between revisions
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| Property / author: John D. Geanakoplos / rank | |||
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| Property / reviewed by: Milan Mareš / rank | |||
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| Property / reviewed by: Milan Mareš / rank | |||
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Revision as of 23:11, 19 March 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Nash and Walras equilibrium via Brouwer |
scientific article |
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Nash and Walras equilibrium via Brouwer (English)
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20 August 2003
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The referred paper contributes to the results on the relation between market and cooperative game solutions, namely between the Nash and Walras equilibrium. The main modification of the model consists in the application of the Brouwer's fixed point theorem instead of the Kakutani's one. The main results regard the existence of both equilibria. The proofs operate with the Satisficing Principle (maximizing a continuous utility subjectnt to specific constraints) instead of the more usual Maximum Principle.
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Nash
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fix point theorem
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Kakutani
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maximum principle
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satisficing principle
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