A Fixed-Point Theorem and Equilibria of Abstract Economies with Weakly Upper Semicontinuous Set-Valued Maps
| Autor: | Carlos Hervés-Beloso, Monica Patriche |
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| Rok vydání: | 2014 |
| Předmět: |
Mathematical optimization
Control and Optimization Property (philosophy) Selection (relational algebra) General equilibrium theory Applied Mathematics Abstract economy Fixed-point theorem Management Science and Operations Research Set (abstract data type) Constraint (information theory) Economy Theory of computation Mathematical economics Mathematics |
| Zdroj: | Journal of Optimization Theory and Applications. 163:719-736 |
| ISSN: | 1573-2878 0022-3239 |
| DOI: | 10.1007/s10957-014-0548-0 |
| Popis: | The main purpose of this paper is to introduce the notion of weakly upper semicontinuous set-valued maps and to establish a new fixed-point theorem. The set-valued maps with an approximating upper semicontinuous selection property are also defined. Next, we use our fixed-point result to obtain equilibrium existence in abstract economies with two constraints, which provide a natural scenario for potential applications of our approach to general equilibrium theory. In this regard, we set models of economies with asymmetric informed agents, who are able to improve their initial information through market signals. These economies offer examples in which the informational feasibility requirement represents an additional constraint. |
| Databáze: | OpenAIRE |
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