This paper is focused on the study of a dynamic competitive equilibrium by using Lagrangean multipliers. This mathematical formulation allows us the improve the Walrasian model by considering the common possibility of an uncharged delayed payment in a given time (for example, by using a credit card). Firstly the economic equilibrium problem is reformulated as an evolutionary variational problem; then the Lagrangean theory in infinite dimensional spaces is applied. Thanks to the application of this theory we obtain the existence of Lagrangean multipliers, which allows us to give a computational procedure for the equilibrium solutions. (C) 2011 Elsevier Ltd. All rights reserved.

Lagrangean variables in infinite dimensional spaces for a dynamic economic equilibrium problem

DONATO, MARIA BERNADETTE;MILASI, Monica
2011

Abstract

This paper is focused on the study of a dynamic competitive equilibrium by using Lagrangean multipliers. This mathematical formulation allows us the improve the Walrasian model by considering the common possibility of an uncharged delayed payment in a given time (for example, by using a credit card). Firstly the economic equilibrium problem is reformulated as an evolutionary variational problem; then the Lagrangean theory in infinite dimensional spaces is applied. Thanks to the application of this theory we obtain the existence of Lagrangean multipliers, which allows us to give a computational procedure for the equilibrium solutions. (C) 2011 Elsevier Ltd. All rights reserved.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11570/1911698
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