Stochastic variational formulation for a general random time-dependent economic equilibrium problem

In the paper, in a Hilbert space setting, a random time-dependent oligopolistic market equilibrium problem in presence of both production and demand excesses is studied and the random time-dependent Cournot–Nash equilibrium principle by means of a stochastic variational inequality is characterized....

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Bibliographic Details
Published in:Optimization letters 2020-11, Vol.14 (8), p.2479-2493
Main Authors: Barbagallo, Annamaria, Guarino Lo Bianco, Serena
Format: Article
Language:English
Subjects:
Computational Intelligence
Mathematics
Mathematics and Statistics
Numerical and Computational Physics
Operations Research/Decision Theory
Optimization
Original Paper
Simulation
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Summary:In the paper, in a Hilbert space setting, a random time-dependent oligopolistic market equilibrium problem in presence of both production and demand excesses is studied and the random time-dependent Cournot–Nash equilibrium principle by means of a stochastic variational inequality is characterized. Then, some existence results to such problem are established and the stochastic continuity of the equilibrium solution is proved. Moreover a simple numerical example illustrates the theoretical results.
ISSN:1862-4472
1862-4480
DOI:10.1007/s11590-020-01569-0