Geodesic
Economic equilibrium through variational inequalities
Magdalena Nockowska-Rosiak 1
1 Institute of Mathematics Technical University of /L/od/x W/olcza/nska 215 90-924 /L/od/x, Poland
Applicationes Mathematicae, Tome 36 (2009) no. 1, pp. 43-58 Cet article a éte moissonné depuis la source Institute of Mathematics Polish Academy of Sciences

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The purpose of this paper is to present an alternative proof of the existence of the Walrasian equilibrium for the Arrow–Debreu–McKenzie model by the variational inequality technique. Moreover, examples of the generalized Arrow–Debreu–McKenzie model are given in which the price vector can reach the boundary of the orthant allowing a commodity to be of price zero at equilibrium. In such a case its supply exceeds demand. It is worth mentioning that utility functions in this model are allowed not to be strictly concave and they can reach their maximum in the commodity space.
DOI : 10.4064/am36-1-4
Keywords: purpose paper present alternative proof existence walrasian equilibrium arrow debreu mckenzie model variational inequality technique moreover examples generalized arrow debreu mckenzie model given which price vector reach boundary orthant allowing commodity price zero equilibrium its supply exceeds demand worth mentioning utility functions model allowed strictly concave reach their maximum commodity space

Magdalena Nockowska-Rosiak  1

1 Institute of Mathematics Technical University of /L/od/x W/olcza/nska 215 90-924 /L/od/x, Poland 
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Magdalena Nockowska-Rosiak. Economic equilibrium through
 variational inequalities. Applicationes Mathematicae, Tome 36 (2009) no. 1, pp. 43-58. doi: 10.4064/am36-1-4

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