# Economic equilibrium through variational inequalities

Applicationes Mathematicae (2009)

- Volume: 36, Issue: 1, page 43-58
- ISSN: 1233-7234

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topMagdalena Nockowska-Rosiak. "Economic equilibrium through variational inequalities." Applicationes Mathematicae 36.1 (2009): 43-58. <http://eudml.org/doc/279901>.

@article{MagdalenaNockowska2009,

abstract = {The purpose of this paper is to present an alternative proof of the existence of the Walrasian equilibrium for the Arrow-Debreu-McKenzie model by the variational inequality technique. Moreover, examples of the generalized Arrow-Debreu-McKenzie model are given in which the price vector can reach the boundary of the orthant allowing a commodity to be of price zero at equilibrium. In such a case its supply exceeds demand. It is worth mentioning that utility functions in this model are allowed not to be strictly concave and they can reach their maximum in the commodity space.},

author = {Magdalena Nockowska-Rosiak},

journal = {Applicationes Mathematicae},

keywords = {optimization problem; Walrasian equilibrium; variational inequalities},

language = {eng},

number = {1},

pages = {43-58},

title = {Economic equilibrium through variational inequalities},

url = {http://eudml.org/doc/279901},

volume = {36},

year = {2009},

}

TY - JOUR

AU - Magdalena Nockowska-Rosiak

TI - Economic equilibrium through variational inequalities

JO - Applicationes Mathematicae

PY - 2009

VL - 36

IS - 1

SP - 43

EP - 58

AB - The purpose of this paper is to present an alternative proof of the existence of the Walrasian equilibrium for the Arrow-Debreu-McKenzie model by the variational inequality technique. Moreover, examples of the generalized Arrow-Debreu-McKenzie model are given in which the price vector can reach the boundary of the orthant allowing a commodity to be of price zero at equilibrium. In such a case its supply exceeds demand. It is worth mentioning that utility functions in this model are allowed not to be strictly concave and they can reach their maximum in the commodity space.

LA - eng

KW - optimization problem; Walrasian equilibrium; variational inequalities

UR - http://eudml.org/doc/279901

ER -

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