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Existence for Competitive Equilibrium by Means of Generalized Quasivariational Inequalities

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  • I. Benedetti
  • M. B. Donato
  • M. Milasi

Abstract

A competitive economic equilibrium model integrated with exchange, consumption, and production is considered. Our goal is to give an existence result when the utility functions are concave, proper, and upper semicontinuous. To this aim we are able to characterize the equilibrium by means of a suitable generalized quasi‐variational inequality; then we give the existence of equilibrium by using the variational approach.

Suggested Citation

  • I. Benedetti & M. B. Donato & M. Milasi, 2013. "Existence for Competitive Equilibrium by Means of Generalized Quasivariational Inequalities," Abstract and Applied Analysis, John Wiley & Sons, vol. 2013(1).
    • Handle: RePEc:wly:jnlaaa:v:2013:y:2013:i:1:n:648986
    DOI: 10.1155/2013/648986
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    References listed on IDEAS

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    1. Alejandro Jofré & R. Terry Rockafellar & Roger J-B. Wets, 2007. "Variational Inequalities and Economic Equilibrium," Mathematics of Operations Research, INFORMS, vol. 32(1), pages 32-50, February.
    2. D. Chan & J. S. Pang, 1982. "The Generalized Quasi-Variational Inequality Problem," Mathematics of Operations Research, INFORMS, vol. 7(2), pages 211-222, May.
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