Systems of variational inequalities related to economic equilibrium by
نویسنده
چکیده
In the paper a new approach to the Walrasian general equilibrium model of economy is presented. The classical market clearing condition is replaced by suitably formulated variational inequality. It states that the market clears for a commodity if its equilibrium price is positive; otherwise, there may be an excess supply of the commodity in equilibrium and then its price is zero. Such approach enables establishing new existence results without assumptions which were fundamental for the currently used methods: (i) Dis-utility functions are not required to be strictly convex and they may attain their minima in the consumption sets (the local nonsatiation of preferences is not required). (ii) The boundary of the positive orthant is allowed for the price vector in equilibrium. It allows for investigation of certain new problems, e.g. bankruptcy conditions.
منابع مشابه
Strong convergence for variational inequalities and equilibrium problems and representations
We introduce an implicit method for nding a common element of the set of solutions of systems of equilibrium problems and the set of common xed points of a sequence of nonexpansive mappings and a representation of nonexpansive mappings. Then we prove the strong convergence of the proposed implicit schemes to the unique solution of a variational inequality, which is the optimality condition for ...
متن کاملIterative algorithms for families of variational inequalities fixed points and equilibrium problems
متن کامل
A Relaxed Extra Gradient Approximation Method of Two Inverse-Strongly Monotone Mappings for a General System of Variational Inequalities, Fixed Point and Equilibrium Problems
متن کامل
Approximating fixed points of nonexpansive mappings and solving systems of variational inequalities
A new approximation method for the set of common fixed points of nonexpansive mappings and the set of solutions of systems of variational inequalities is introduced and studied. Moreover, we apply our main result to obtain strong convergence theorem to a common fixed point of a nonexpannsive mapping and solutions of a system of variational inequalities of an inverse strongly mono...
متن کاملAn Iterative Scheme for Generalized Equilibrium, Variational Inequality and Fixed Point Problems Based on the Extragradient Method
The problem ofgeneralized equilibrium problem is very general in the different subjects .Optimization problems, variational inequalities, Nash equilibrium problem and minimax problems are as special cases of generalized equilibrium problem. The purpose of this paper is to investigate the problem of approximating a common element of the set of generalized equilibrium problem, variational inequal...
متن کامل