Existence of general competitive equilibria: a variational approach

DOI10.1155/2016/4969253MaRDI QIDQ1669235zbMATH OpenOpenAlexWikidataFDO

Authors Giovanni Anello, Francesco Rania

Publication date 30 August 2018

Published in Abstract and Applied Analysis (Search for Journal in Brave)

Copyright license Creative Commons Attribution 4.0 International

Full work available at URL https://doi.org/10.1155/2016/4969253

Mathematics Subject Classification ID

Variational inequalities (49J40) Complementarity and equilibrium problems and variational inequalities (finite dimensions) (aspects of mathematical programming) (90C33) General equilibrium theory (91B50)

Review text

Summary: We study the existence of general competitive equilibria in economies with agents and goods in a finite number. We show that there exists a Walras competitive equilibrium in all ownership private economies such that, for all consumers, initial endowments do not contain free goods and utility functions are locally Lipschitz quasiconcave. The proof of the existence of competitive equilibria is based on variational methods by applying a theoretical existence result for Generalized Quasi Variational Inequalities.

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Cited in

(10)

• On variational stability in competitive economies
• Existence for competitive equilibrium by means of generalized quasivariational inequalities
• Restricted participation on financial markets: a general equilibrium approach using variational inequality methods
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