New conditions for the existence of equilibrium prices

Yugoslav Journal of Operations Research

Shananin Aleksandr A.¹  Pavlova Natalia G.²  Arutyunov Aram V.² 

[1] Moscow Institute Of Physics and Technology, Dolgoprudny, Moscow Region, Russian Federation + Dorodnicyn Computing Centre, FRC CSC RAS, Moscow, Russian Federation + RUDN University, Department of Nonlinear Analysis and Optimization, Moscow, Russian Federat;RUDN University, Department of Nonlinear Analysis and Optimization, Moscow, Russian Federation;

关键词: economic equilibrium;    demand function;    supply function;    transaction costs;    coincidence points;    covering mappings;   

DOI  :  10.2298/YJOR170212021A

来源: DOAJ

【 摘 要 】

We study the existence of equilibrium price vector in a supply-demand model taking into account the transaction costs associated with the sale of products. In this model, the demand function is the solution to the problem of maximizing the utility function under budget constraints. The supply function is the solution to the problem of maximizing the profit (with given transaction losses) on the technology set. We establish sufficient conditions for the existence of the equilibrium price vector, which are consequences of some theorems in the theory of covering mappings.

【 授权许可】

Unknown