A Bayesian abstract economy with a measure space of agents.
The purpose of this paper is to prove the existence of a Walrasian equilibrium for the Arrow-Debreu and Arrow-Debreu-McKenzie models with positive price vector with nonsatiated utility functions of consumers by using variational inequalities. Moreover, the same technique is used to give an alternative proof of the existence of a Walrasian equilibrium for the Arrow-Debreu and Arrow-Debreu-McKenzie models with nonnegative, nonzero price vector with nonsatiated utility functions.
In this article we give descriptions of some economic models that are based on Arrow-Hahn economic model. Finally we consider a model with two major assumptions: first, there is discontinuous excess demand function and, second, if price goes to zero, then it is possible that excess demand may approach infinity. For this last new economic model the existence of quasi-equilibrium is proved.