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Generalizations of the FKKM Theorem and Ky-Fan Minimax Inequality, with Applications to Maximal Elements, Price Equilibrium, and Complementarity

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  • Tian, Guoqiang

Abstract

This paper generalizes the Fan-Knaster-Kuratowski-Mazurkiewicz (FKKM) theorem of Ky Fan (“Game Theory and Related Topics,” pp. 151–156, North-Holland, Amsterdam, 1979; and Math. Ann.266, 1984, 519–537) and the Ky Fan minimax inequality by introducing a class of the generalized closedness and continuity conditions, which are called the transfer closedness and transfer continuities. We then apply these results to prove the existence of maximal elements of binary relations under very weak assumptions. We also prove the existence of price equilibrium and the complementarity problem without the continuity assumptions. Thus our results generalize many of the existence theorems in the literature.

Suggested Citation

  • Tian, Guoqiang, 1990. "Generalizations of the FKKM Theorem and Ky-Fan Minimax Inequality, with Applications to Maximal Elements, Price Equilibrium, and Complementarity," MPRA Paper 41225, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:41225
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    References listed on IDEAS

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    1. Walker, Mark, 1977. "On the existence of maximal elements," Journal of Economic Theory, Elsevier, vol. 16(2), pages 470-474, December.
    2. Kim, Taesung & Richter, Marcel K., 1986. "Nontransitive-nontotal consumer theory," Journal of Economic Theory, Elsevier, vol. 38(2), pages 324-363, April.
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    More about this item

    Keywords

    FKKM Theorem; Inequality; Maximal Elements; Price Equilibrium; Complementarity;
    All these keywords.

    JEL classification:

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

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