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Diskretnyi Analiz i Issledovanie Operatsii, 2012, Volume 19, Issue 4, Pages 15–34
(Mi da694)
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This article is cited in 2 scientific papers (total in 2 papers)
On existence of Walras equilibrium in a multi-regional economic model
V. A. Vasil'evab a Sobolev Institute of Mathematics, Novosibirsk, Russia
b Novosibirsk State University, Novosibirsk, Russia
Abstract:
In the paper, a general Walras equilibrium existence theorem is established for a class of multi-regional economic systems. In contrast to the earlier announced rather technical existence result, we propose quite simple assumptions consisting of the absence of cornucopia and strong regional autarchy requirements. It is worth to note that strong autarchy requirement is a modification of the well-known positive initial endowment assumption. Alongside with the existence result obtained, strong attention is paid to the comparative analysis of the core, Walras, and Edgeworth equilibria of multi-regional models under consideration. Bibliogr. 14.
Keywords:
multi-regional interaction model, Walras equilibrium, core, $k$-splitting, Edgeworth equilibrium.
Received: 23.08.2011 Revised: 11.04.2012
Citation:
V. A. Vasil'ev, “On existence of Walras equilibrium in a multi-regional economic model”, Diskretn. Anal. Issled. Oper., 19:4 (2012), 15–34; J. Appl. Industr. Math., 6:4 (2012), 501–513
Linking options:
https://www.mathnet.ru/eng/da694 https://www.mathnet.ru/eng/da/v19/i4/p15
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Abstract page: | 597 | Full-text PDF : | 136 | References: | 69 | First page: | 4 |
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