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Discontinuous functions in gale economic model

    I. Bula Affiliation

Abstract


The concept of a general economic equilibrium based on balance of supply and demand has played a central role in theoretical economics since very beginning. One of the basic assumptions in mathematical modelling of the equilibrium economic model is the continuity of functions describing the model. This article analyses simplified version of Gale model from year 1955 by weakening the condition of strict convexity and continuity of utilities functions and proving existence of quasi‐equilibrium in generalized Gale model. MSC 2000: 91B24, 91B42, 91B50, 26A15.


Trūkios funkcijos Geilo ekonominiame modelyje


Santrauka



Ekonomines pusiausyros tarp atsargu ir poreikio savoka vaidina svrbu vaidmeni ekonometrikos teorijoje ir yra pradineje vystymosi stadijoje. Matematiniame modeliavime viena iš pagrindiniu prielaidu yra funkciju, aprašančiu ekonomines pusiausvyros salygas, todydumas. Šis straipsnis nagrineja supaprastinta Geilo modelio (pateikta 1955 m.) versija, susilpninant pelno funkciju tolydumo ir griežto iškilumo salygas. Irodoma, kad apibendrintame Geilo modelyje kvazipusiausvyros salyga egzistuoja.


First Published Online: 14 Oct 2010

Keyword : economic equilibrium, mathematical modelling, equilibrium economic model, quasi‐equilibrium, Gale model

How to Cite
Bula, I. (2003). Discontinuous functions in gale economic model. Mathematical Modelling and Analysis, 8(2), 93-102. https://doi.org/10.3846/13926292.2003.9637214
Published in Issue
Jun 30, 2003
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This work is licensed under a Creative Commons Attribution 4.0 International License.