Evolutionary quasi-variational inequality for a production economy. (April 2018)

• Record Type: Journal Article
• Authors: Donato, Maria Bernadette; Milasi, Monica; Vitanza, Carmela
• Is Part Of: Nonlinear analysis. Volume 40(2018)
• Page Start: 328
• Page End: 336
• Publication Date: 2018-04
• Subjects: General equilibrium -- Evolutionary quasi-variational inequality -- Generalized concavity; Nonlinear functional analysis -- Periodicals; Analyse fonctionnelle non linéaire -- Périodiques; Nonlinear functional analysis; Periodicals; 515.7248
• DOI: 10.1016/j.nonrwa.2017.09.007
• Languages: English
• ISSNs: 1468-1218

Abstract

Abstract: This paper is focused on the analysis of a time-dependent general equilibrium problem for a production economy by using the variational inequality approach. More precisely, the time-dependent allocation-price equilibrium consists in searching the optimal allocation by households and firms and in searching the market clearing condition. Firstly, a new formulation of the economic equilibrium problem by means of an evolutionary quasi-variational inequality is proven in the general context of semistrictly quasiconcave utility functions. Finally, an existence result for equilibrium solutions is given.