Equilibrium with fixed budgets and superlinear connections (Q2725325)
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scientific article; zbMATH DE number 1619125
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Equilibrium with fixed budgets and superlinear connections |
scientific article; zbMATH DE number 1619125 |
Statements
Equilibrium with fixed budgets and superlinear connections (English)
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12 July 2001
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economic equilibrium
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public goods
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superlinear connection
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The authors investigate the properties of equilibrium models with fixed budgets and positively homogeneous utilities under restrictions on free exchange. It is supposed that the restrictions on free exchange are expressed in form of superlinear connections. An equilibrium for those models is defined in an abstract form by so-called matched four-tuples of vectors. The authors study differential properties of equilibria and show that it is possible to construct equilibria by solving a certain convex extremal problem. The results of the paper can be applied in the study of special types of equilibrium models with fixed budgets which arise in the theory of von Neumann-type economic dynamics, in particular in the theory of models of reproduction.
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