Existence of equilibrium in abstract economies with discontinuous payoffs and non-compact choice spaces Academic Article

abstract

• This paper proves the equilibrium existence for abstract economies with non-compact infinite- dimensional strategy spaces, infinitely many agents, and discontinuous payoff (utility) functions by using the quasi-variational inequality approach. The motivations come from economic applications showing that payoff functions are discontinuous in many cases and the set of feasible allocations generally is not compact in a given topology of the commodity space, a typical situation in infinite dimensional vector space. It will be noted that our results also extend a foundational quasi-variational inequality by relaxing the compactness and concavity conditions. Thus many existence theorems in the quasi-variational inequalities literature can also be generalized by our results. 1992.

authors

• Tian, Guoqiang

published proceedings

• Journal of Mathematical Economics

author list (cited authors)

• Tian, G.

citation count

• 14

complete list of authors

• Tian, Guoqiang

publication date

• January 1992

publisher

• Elsevier  Publisher

published in

• Journal of Mathematical Economics  Journal

keywords

• 10 Reduced Inequalities

Digital Object Identifier (DOI)

• 10.1016/0304-4068(92)90015-y

start page

• 379

end page

• 388

volume

• 21

issue

• 4

URL

• http://dx.doi.org/10.1016/0304-4068(92)90015-y

user-defined tag

• 10 Reduced Inequalities