Existence of collateral Equilibrium without survival assumption
نویسندگان
چکیده
منابع مشابه
Existence of Collateral Equilibrium without Survival Assumption
This paper shows the existence of a collateral equilibrium without assuming any hypotheses on the strict positivity, be they individual initial endowments, including the ex post initial endowments, or aggregated initial endowments. Because of dropping the strict positivity of social initial endowment we fail to get an equilibrium. Instead, we get a quasi-equilibrium. Then, appealing to the conc...
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It is well known that an equilibrium in the Arrow-Debreu model may fail to exist if a very restrictive condition called the survival assumption is not satisfied. We study two approaches that allow for the relaxation of this condition. Danilov and Sotskov (1990), and Florig (2001) developed a concept of a generalized equilibrium based on a notion of hierarchic prices. Marakulin (1990) proposed a...
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This communication is concerned with the existence of equilibrium in Cournot’s model of oligopoly [2, Chap. VII]. This question, of course, has been examined often (see, e.g., [l-3]). To our knowledge, however, all previous treatments of the problem have assumed (either directly or indirectly) that the reaction curves of the firms are single-valued continuous functions or convex-valued, upper h...
متن کاملNotes on a ‘Constructive Proof of the Existence of a Collateral Equilibrium’
In an interesting article in this Journal, Wei Ma (2015), claims that a constructive proof of existence of a Collateral Equilibrium (with a Leontief utility function) is provided in the paper. Moreover, there is also the additional claim that ‘on the basis of this proof, we can (and we shall) develop an algorithm for computing that equilibrium’ (ibid, p. 1). Thirdly, the statements that ‘the al...
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We shall prove the existence of minimizers of the following functional f(u) = R T 0 L(x, u(x), u ′(x)) dx without convexity assumption. As a consequence of this result and the duality described in [10] we derive the existence of solutions for the Dirichlet problem for a certain differential inclusion being a generalization of the Euler–Lagrange equation of the functional f .
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ژورنال
عنوان ژورنال: Estudos Econômicos (São Paulo)
سال: 2011
ISSN: 0101-4161
DOI: 10.1590/s0101-41612011000100001