A modified Michael's selection theorem with application to generalized Nash equilibrium problem
Applications of functional analysis in optimization, convex analysis, mathematical programming, economics (46N10) Set-valued and variational analysis (49J53) Set-valued maps in general topology (54C60) Selections in general topology (54C65) Fundamental topics (basic mathematics, methodology; applicable to economics in general) (91B02) General equilibrium theory (91B50)
The authors improve upon a selection theorem of \textit{E.~Michael} [Proc. Am. Math. Soc. 17, 1404--1406 (1966; Zbl 0178.25902)] to derive an existence result for the generalized Nash equilibrium problem. A point \(x\) in a convex subset \(C\) of a TVS \(X\) is called an inside point of \(C\) (notation \(x\in I(C)\)) if \(x\) does not belong to any closed face of \(\mathrm{cl}\, C\) (a notion due to E.~Michael). Denote by \(\mathcal{D}(X)\) the family of all convex subsets \(C\) of \(X\) such that \(I(\mathrm{cl}\, C)\subset C\). This family contains all closed convex subsets of \(X\) as well as those with nonempty relative interior, but it is considerably larger. The context of the selection theorem proved by the authors is that of a metrizable topological space \(X\) and of a locally convex space \(Y\). If \(C\) is a metrizable compact convex subset of \(Y\), then every lower semi-continuous set-valued mapping \(F:X\rightrightarrows C\) such that \(\emptyset\ne F(x)\in \mathcal{D}(Y)\), for all \(x\in X,\) admits a continuous selection. This extends some previous results of the authors and shows that the class of complete subsets of \(C\) (considered by Michael) can be extended to that of sets in \(\mathcal{D}(Y)\). Applications are given to the existence of equilibrium in a game without ordered preferences. One considers a countable set \(N\) of players and, for each \(i\in N\), nonempty compact convex subsets of some locally convex spaces \(X_i\) -- their sets of preferences. Also, let \(C=\prod_{i\in N}C_i\) and \(F_i:C\rightrightarrows C_i\), \( i\in N\), some lower semicontinuous set-valued maps -- their preferences. Under these hypotheses there exists a point \(x\in C\) such that either \(x_i\in I(\mathrm{cl\; co}\, C_i)\) or \(F_i(x)=\emptyset\) (Theorem~4.1). A similar result, for \(N\) finite and \(C_i\) nonempty compact convex subsets of \(\,\mathbb{R}^n\), was obtained by \textit{D.~Gale} and \textit{A.~Mas-Colell} [J. Math. Econ. 2, 9--15 (1975; Zbl 0324.90010)].
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