Stationary points and equilibria

DOI10.1007/S11784-009-0126-5MaRDI QIDQ2431378zbMATH OpenOpenAlexFDO

Authors Gerard van der Laan

Publication date 13 April 2011

Published in Journal of Fixed Point Theory and Applications (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s11784-009-0126-5

zbMATH Keywords

fixed pointgeneral equilibrium modelnoncooperative gamestationary point

Mathematics Subject Classification ID

Applications of operator theory in optimization, convex analysis, mathematical programming, economics (47N10) Variational inequalities (49J40) Complementarity and equilibrium problems and variational inequalities (finite dimensions) (aspects of mathematical programming) (90C33) Research exposition (monographs, survey articles) pertaining to game theory, economics, and finance (91-02) Noncooperative games (91A10) Other game-theoretic models (91A40) General equilibrium theory (91B50)

Review text

Given \(X\subset \mathbb{R}^n\) and \(f:X\to\mathbb{R}^n,\) an element \(x^*\in X\) is a stationary point of \(f\) on \(X\) if \[ x\cdot f(x)\leq x^*\cdot f(x^*)\quad \text{for all }x\in X. \] The aim of this survey is to revisit some general equilibrium models and prove the existence of equilibria via the use of stationary point results, instead of the frequently used fixed point theorems. A~path following method for finding stationary points is presented and two applications are considered.

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