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Walrasian Equilibrium Problem with Memory Term

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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 L 2([0,T],ℝ), and, thanks to this characterization, existence and qualitative results on equilibrium solution are given.

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Authors and Affiliations

  1. University of Messina, Viale Ferdinando Stagno D’Alcontres 31, 98166, Messina, Italy

    Maria Bernadette Donato & Monica Milasi

  2. University of Catania, Viale Andrea Doria 6, 95125, Catania, Italy

    Laura Scrimali

Authors
  1. Maria Bernadette Donato
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  2. Monica Milasi
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  3. Laura Scrimali
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Corresponding author

Correspondence to Monica Milasi.

Additional information

Communicated by Antonino Maugeri.

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Donato, M.B., Milasi, M. & Scrimali, L. Walrasian Equilibrium Problem with Memory Term. J Optim Theory Appl 151, 64–80 (2011). https://doi.org/10.1007/s10957-011-9862-y

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  • DOI: https://doi.org/10.1007/s10957-011-9862-y

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