The aim of this paper is to study the Walrasian equilibrium problem when the data are time-dependent. In order to have a more realistic model, the excess demand function depends on the current price and on previous events of the market. Hence, a memory term is introduced; it describes the precedent states of the equilibrium. This model is reformulated as an evolutionary variational inequality in the Lebesgue space L2([0,T ],R), and, thanks to this characterization, existence and qualitative results on equilibrium solution are given.
Walrasian equilibrium problem with memory term
DONATO, MARIA BERNADETTE;MILASI, Monica;
2011-01-01
Abstract
The aim of this paper is to study the Walrasian equilibrium problem when the data are time-dependent. In order to have a more realistic model, the excess demand function depends on the current price and on previous events of the market. Hence, a memory term is introduced; it describes the precedent states of the equilibrium. This model is reformulated as an evolutionary variational inequality in the Lebesgue space L2([0,T ],R), and, thanks to this characterization, existence and qualitative results on equilibrium solution are given.File in questo prodotto:
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