Variation principles in models of economic equilibrium.

From MaRDI portal





The Arrow-Debreu equilibrium model is studied with consumers having concave utility functions. Both the supply and demand are described by set-valued mappings. First, the existence of an equilibrium price is proved when the demand function is one-to-one. Next, a duality theorem is obtained for GPP (generalized programming problem). As a corollary, a Nash solution for a bargaining problem is derived, and finally, the existence of a competitive equilibrium price vector in the Arrow-Debreu model is proved in the form of variational inequalities. For the entire collection see [Zbl 0976.00053].











This page was built for publication: Variation principles in models of economic equilibrium.

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q4546382)