On a parameterized system of nonlinear equations with economic applications (Q1937078): Difference between revisions

The paper establishes a general theorem on the existence of a connected set of zero points of an upper semicontinuous mapping. The set connects two distinct points of the boundary of its domain. The theorem generalizes several important existence theorems (e.g. Brouder's fixed point theorem, Ky Fan's coincidence theorem and others). The main theorem is proved constructively by making use of an algorithm. The results of the paper are applied to an economic problem, namely to the investigation of a general competitive exchange economy under price rigidities, in which the objective is to maximize the welfare of every economic agent and balance at the same time the demand and supply.