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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.

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Handle: RePEc:wly:jnlaaa:v:2013:y:2013:i:1:n:648986
DOI: 10.1155/2013/648986
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