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This article is cited in 18 scientific papers (total in 18 papers)
Equilibrium price as a coincidence point of two mappings
A. V. Arutyunov, S. E. Zhukovskiy, N. G. Pavlova Peoples Friendship University of Russia
Abstract:
The existence of an equilibrium price vector in a nonlinear market model is analyzed. In the model, the demand and supply functions are obtained by maximizing the producer utility and profit, respectively. Sufficient conditions for the existence of an equilibrium price vector and its stability with respect to small perturbations in the model are given. The results are consequences of theorems on the existence and stability of coincidence points in the theory of $\alpha$-covering mappings.
Key words:
equilibrium prices, demand function, supply function, coincidence point, covering mappings.
Received: 07.08.2012
Citation:
A. V. Arutyunov, S. E. Zhukovskiy, N. G. Pavlova, “Equilibrium price as a coincidence point of two mappings”, Zh. Vychisl. Mat. Mat. Fiz., 53:2 (2013), 225–237; Comput. Math. Math. Phys., 53:2 (2013), 158–169
Linking options:
https://www.mathnet.ru/eng/zvmmf9778 https://www.mathnet.ru/eng/zvmmf/v53/i2/p225
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