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Existence of General Competitive Equilibria: A Variational Approach

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  • G. Anello
  • F. Rania

Abstract

We study the existence of general competitive equilibria in economies with agents and goods in a finite number. We show that there exists a Walras competitive equilibrium in all ownership private economies such that, for all consumers, initial endowments do not contain free goods and utility functions are locally Lipschitz quasiconcave. The proof of the existence of competitive equilibria is based on variational methods by applying a theoretical existence result for Generalized Quasi Variational Inequalities.

Suggested Citation

  • G. Anello & F. Rania, 2016. "Existence of General Competitive Equilibria: A Variational Approach," Abstract and Applied Analysis, Hindawi, vol. 2016, pages 1-10, June.
    • Handle: RePEc:hin:jnlaaa:4969253
    DOI: 10.1155/2016/4969253
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