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Generalized KKM theorem, minimax inequalities and their applications

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  • Tian, Guoqiang

Abstract

This paper extends the well-known KKM theorem and variational inequalities by relaxing the closedness of values of a correspondence and lower semicontinuity of a function. The approach adopted is based on Michael's continuous selection theorem. As applications, we provide theorems for the existence of maximum elements of a binary relation, a price equilibrium, and the complementarity problem. Thus our theorems, which do not require the openness of lower sections of the preference correspondences and the lower semicontinuity of the excess demand functions, generalize many of the existence theorems such as those in Sonnenschein (Ref. 1), Yannelis and Prabhakar (Ref. 2), and Border (Ref. 3).

Suggested Citation

  • Tian, Guoqiang, 1994. "Generalized KKM theorem, minimax inequalities and their applications," MPRA Paper 41217, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:41217
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    File URL: https://mpra.ub.uni-muenchen.de/41217/1/MPRA_paper_41217.pdf
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    References listed on IDEAS

    as
    1. Yannelis, Nicholas C. & Prabhakar, N. D., 1983. "Existence of maximal elements and equilibria in linear topological spaces," Journal of Mathematical Economics, Elsevier, vol. 12(3), pages 233-245, December.
    2. Shafer, Wayne & Sonnenschein, Hugo, 1975. "Equilibrium in abstract economies without ordered preferences," Journal of Mathematical Economics, Elsevier, vol. 2(3), pages 345-348, December.
    3. Guoqiang Tian, 1993. "Necessary and Sufficient Conditions for Maximization of a Class of Preference Relations," Review of Economic Studies, Oxford University Press, vol. 60(4), pages 949-958.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ruscitti, Francesco, 2012. "On the boundary behavior of the excess demand function," Research in Economics, Elsevier, vol. 66(4), pages 371-374.
    2. Tian, Guoqiang, 2012. "A Full Characterization on Fixed-Point Theorem, Minimax Inequality, Saddle Point, and KKM Theorem," MPRA Paper 57929, University Library of Munich, Germany, revised Jul 2014.
    3. Guoqiang Tian, 2016. "On the existence of price equilibrium in economies with excess demand functions," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(1), pages 5-16, April.
    4. Tian, Guoqiang, 2015. "On the existence of equilibria in games with arbitrary strategy spaces and preferences," Journal of Mathematical Economics, Elsevier, vol. 60(C), pages 9-16.
    5. repec:spr:joptap:v:169:y:2016:i:2:d:10.1007_s10957-016-0919-9 is not listed on IDEAS

    More about this item

    Keywords

    KKM theorem; Variational inequalities; Complementarity problem; Price equilibrium; Maximal elements ; Binary relations;

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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