A Radner equilibrium problem: a variational approach with preference relations

Monica Milasi, Domenico Scopelliti, Carmela Vitanza

Abstract


In this paper, we study an economic equilibrium problem under uncertainty using a variational approach. In particular, the equilibrium conditions involve the maximization of agents preferences, which are supposed to be not complete. Hence, we will reformulate the equilibrium problem by means of a quasi-variational inequality without representing the preferences by a utility function.

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DOI: https://doi.org/10.1478/AAPP.98S2A11

Copyright (c) 2020 Monica Milasi, Domenico Scopelliti, Carmela Vitanza

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