Volume 17, No 1, 2010, P. 75-96
V. I. Shmyrev
Linear-fractional exchange model. Part 1: Existence and characterization of equilibrium
In this paper we consider an exchange model with linear-fractional utility functions of consumers. Existence of equilibria are studied. We adduce existence conditions for the free disposal and strong equilibrium. For the fixed budget exchange model a reduction of the initial problem to the polyhedral complementarity one is obtained.
Keywords: linear-fractional function, exchange model, economic equilibrium, price vector, polyhedral complementarity.
Shmyrev Vadim Ivanovich 1,2
1. S. L. Sobolev Institute of Mathematics, SB RAS,
4 Acad. Koptyug Ave., 630090 Novosibirsk, Russia
Novosibirsk State University,
2 Pirogov St., 630090 Novosibirsk, Russia