Existence of general competitive equilibria: a variational approach. (English) Zbl 1470.91150

Anello, G.; Rania, F.

Abstr. Appl. Anal. 2016, Article ID 4969253, 10 p. (2016).

Summary: We study the existence of general competitive equilibria in economies with agents and goods in a finite number. We show that there exists a Walras competitive equilibrium in all ownership private economies such that, for all consumers, initial endowments do not contain free goods and utility functions are locally Lipschitz quasiconcave. The proof of the existence of competitive equilibria is based on variational methods by applying a theoretical existence result for Generalized Quasi Variational Inequalities.

MSC:

91B50	General equilibrium theory
49J40	Variational inequalities
90C33	Complementarity and equilibrium problems and variational inequalities (finite dimensions) (aspects of mathematical programming)

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