In this paper, we study an economic equilibrium problem under uncertainty using a variational approach. In particular, the equilibrium conditions involve the maximization of agents preferences, which are supposed to be not complete. Hence, we will reformulate the equilibrium problem by means of a quasi-variational inequality without representing the preferences by a utility function.
A Radner equilibrium problem: a variational approach with preference relations
Scopelliti, Domenico;
2020-01-01
Abstract
In this paper, we study an economic equilibrium problem under uncertainty using a variational approach. In particular, the equilibrium conditions involve the maximization of agents preferences, which are supposed to be not complete. Hence, we will reformulate the equilibrium problem by means of a quasi-variational inequality without representing the preferences by a utility function.File in questo prodotto:
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