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On the existence of a walrasian equilibrium in a model of interregional economic relations

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Abstract

We establish rather general conditions for the existence of a Walrasian equilibrium in the interregional interaction models studied in a series of articles on multiregional economic systems. In contrast to the complicated technical assumptions of the previously announced existence theorem, the conditions here amount to simple modifications of the standard requirements of equilibrium analysis: the absence of regional “cornucopia” and strict autarchy of all participants of the model. Furthermore, strict autarchy is directly analogous to the well-known positivity conditions of initial supply for the classical exchange model. In addition to a proof of the main result we discuss its application to the comparative analysis of unblocking states and Walrasian and Edgeworthian equilibrium states of the multiregional economic systems under consideration.

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Authors and Affiliations

  1. Sobolev Institute of Mathematics, pr. Akad. Koptyuga 4, Novosibirsk, 630090, Russia

    V. A. Vasil’ev

  2. Novosibirsk State University, ul. Pirogova 2, Novosibirsk, 630090, Russia

    V. A. Vasil’ev

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  1. V. A. Vasil’ev
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Correspondence to V. A. Vasil’ev.

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Original Russian Text © V.A. Vasil’ev, 2012, published in Diskretnyi Analiz i Issledovanie Operatsii, 2012, Vol. 19, No. 4, pp. 15–34.

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Vasil’ev, V.A. On the existence of a walrasian equilibrium in a model of interregional economic relations. J. Appl. Ind. Math. 6, 501–513 (2012). https://doi.org/10.1134/S1990478912040114

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  • DOI: https://doi.org/10.1134/S1990478912040114

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