Fixed points and social equilibrium existence without convexity conditions

Urai, Ken; Yoshimachi, Akihiko

大阪大学経済学, 2023, 73(2・3), 135-147

Number of Access:360（2025-08-27 00:17 Counts）

Identifier to cite or link to this item: https://doi.org/10.18910/93337

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Title
Fixed points and social equilibrium existence without convexity conditions
Creator
NRID
1000000203597 1000000203597
researchmap permalink
read0175173 read0175173
Scopus Author ID
24287014300 24287014300
CreatorName
Urai, Ken
NRID
1000040440490 1000040440490
CreatorName
Yoshimachi, Akihiko
Subject
Fixed point theorem
Abstract economy
Non-convexity
Competitive equilibrium
Default
Bankruptcy
JEL
C62
D51
D52
D82
G33
Description
Article
Abstract
The purpose of this paper is to show the existence of equilibrium for economic models with non-convex constraint correspondences. Our proof is based on a new fixed point theorem (a generalization of Kakutani-Fan-Glicksberg) depending merely on conditions for local directions of correspondences, so that we may obtain a general condition that may not depend on any global continuity and convexity on values of mappings for the existence of economic equilibria. We also apply the result for the existence of competitive equilibrium in economies with default and/or bankruptcy.
Publisher
大阪大学経済学会・大阪大学大学院経済学研究科
The Economic Society of Osaka University and Graduate School of Economics, Osaka University
Source Title
大阪大学経済学
Osaka Economic Papers
Volume (Issue)
73(2・3)
Page
135-147
Date of Issued
2023-12
Language
English
Handle URL
https://hdl.handle.net/11094/93337
DOI
https://doi.org/10.18910/93337
eISSN
24240397
NCID
AN00030111
Access Rights
open access
oaire:version
Version of Record
Category
本学関連学会 Related Societies
Osaka Economic Papers / Vol.73 No.2・3