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A network formulation of market equilibrium problems and variational inequalities |
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| Authors: | Stella Dafermos Anna Nagurney |
| Affiliation: | Division of Applied Mathematics, Brown University, Providence, RI, USA;School of Management, University of Massachusetts, Amherst, MA, USA |
| Abstract: | This paper shows that market equilibrium problems of production may generally be modelled as equilibrium flow problems in networks and that their equilibrium conditions can be visualized as a variational inequality. This connection would allow us to transplant directly elements of the well-developed theory of equilibrium flow in networks to the theory of market equilibrium. |
| Keywords: | market equilibrium network models variational inequalities traffic equilibrium |
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