Quasivariational inequalities for dynamic competitive economic equilibrium problems in discrete time (Q6156166)

In this paper, the authors deal with a discrete model of a competitive equilibrium for a pure exchange economy in the discrete interval \([0, T ]_{\mathbb{Z}}\) and present a dynamic formulation of the equilibrium conditions. In this evolutionary market the goal of each agent is to maximize it in the entire market in the whole period of time. During the interval of discrete time \([0, T ]_{\mathbb{Z}}\) each agent merchandises his own commodities with the other agents taking into account his own budget set: the amount that each agent pays for receiving the goods in the whole period \([0, T ]_{\mathbb{Z}}\) is at most the amount that each agent gains, during the period \([0, T ]_{\mathbb{Z}}\), as his initial endowment. It is given an existence result of discrete time-dependent equilibrium solutions. Finally, it is shown the stability of equilibrium in a completely decentralized Walrasian general equilibrium economy in which prices are fully controlled by economic agents, with production and trade occurring out of equilibrium.