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Equilibrium price as a coincidence point of two mappings

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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 α-covering mappings.

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References

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Authors and Affiliations

  1. Peoples’ Friendship University of Russia, ul. Miklukho-Maklaya 6, Moscow, 119198, Russia

    A. V. Arutyunov, S. E. Zhukovskiy & N. G. Pavlova

Authors
  1. A. V. Arutyunov
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  2. S. E. Zhukovskiy
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  3. N. G. Pavlova
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Correspondence to A. V. Arutyunov.

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Original Russian Text © A.V. Arutyunov, S.E. Zhukovskiy, N.G. Pavlova, 2013, published in Zhurnal Vychislitel’noi Matematiki i Matematicheskoi Fiziki, 2013, Vol. 53, No. 2, pp. 225–237.

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Arutyunov, A.V., Zhukovskiy, S.E. & Pavlova, N.G. Equilibrium price as a coincidence point of two mappings. Comput. Math. and Math. Phys. 53, 158–169 (2013). https://doi.org/10.1134/S0965542513020048

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  • DOI: https://doi.org/10.1134/S0965542513020048

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