Dynamic Walrasian price equilibrium problem: evolutionary variational approach with sensitivity analysis (Q2465571): Difference between revisions

This article concerns the study of Walrasian price equilibrium problem, where column price vector \(p(t)=(p_1(t), p_2(t), \dots , p_l(t))\) is time-dependent. The authors formulate this problem in terms of a variational inequality, i.e. a price vector \(p^\ast\) is a Walrasian equilibrium iff it satisfies the inequality \[ \int_0^T z (p^\ast (t), p(t)-p^\ast (t))dt\leq 0.\eqno(\ast) \] Here \(z(p)\) is the aggregate excess demand vector-function. Then the authors prove the existence and stability (sensitivity analysis) of the solution of (\(*\)).