|
This article is cited in 1 scientific paper (total in 1 paper)
Equilibrium prices in an economic equilibrium model
A. V. Arutyunova, N. G. Pavlovaa, A. A. Shananinb a PFUR
b MIPT
Abstract:
In this paper, we study the existence of equilibrium price vector in a concurrent equilibrium
model taking into account the transaction costs associated with the sale of products. In this
model, the demand function is obtained as the solution to the problem of maximizing the utility
function under budget constraints, and the supply function is obtained as the solution to the
problem of profit maximization given transaction losses on the technology set.
We establish sufficient conditions for the existence of quilibrium price vector. These conditions
are consequences of general theorems on the existence of coincidence points in the theory of $\alpha$-covering mappings.
Keywords:
economic equilibrium, transaction costs, coincidence points.
Received: 13.11.2014
Citation:
A. V. Arutyunov, N. G. Pavlova, A. A. Shananin, “Equilibrium prices in an economic equilibrium model”, Matem. Mod., 28:3 (2016), 3–22
Linking options:
https://www.mathnet.ru/eng/mm3707 https://www.mathnet.ru/eng/mm/v28/i3/p3
|
|