Equilibria with discontinuous preferences: New fixed point theorems

Wei He; Nicholas C. Yannelis

doi:10.1016/j.jmaa.2017.01.089

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Equilibria with discontinuous preferences: New fixed point theorems

Journal article

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Peer reviewed

Equilibria with discontinuous preferences: New fixed point theorems

Wei He and Nicholas C. Yannelis

Journal of mathematical analysis and applications, Vol.450(2), pp.1421-1433

06/15/2017

DOI: 10.1016/j.jmaa.2017.01.089

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Abstract

We prove new equilibrium existence results for games and economies with discontinuous and non-ordered preferences. To do so, we introduce the notion of “continuous inclusion property”, and prove new fixed point theorems which extend and generalize the results of Fan [17], Glicksberg [20], Browder [7], and Gale and Mas-Colell [19]. Our results also extend the previous work of Yannelis [47] and Wu and Shen [46].

Continuous inclusion property

Discontinuous excess demand correspondence

Discontinuous games

Existence of maximal elements

Fixed-point theorem

Details

Title: Subtitle: Equilibria with discontinuous preferences: New fixed point theorems
Creators: Wei He - Chinese University of Hong Kong
Nicholas C. Yannelis - University of Iowa
Resource Type: Journal article
Publication Details: Journal of mathematical analysis and applications, Vol.450(2), pp.1421-1433
DOI: 10.1016/j.jmaa.2017.01.089
ISSN: 0022-247X
eISSN: 1096-0813
Publisher: Elsevier Inc
Language: English
Date published: 06/15/2017
Academic Unit: Economics
Record Identifier: 9984380529602771

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