Evolutionary variational inequality with long-term memory and applications to economic networks

The aim of this paper is to present the relation between an evolutionary variational inequality with long-term memory and Lagrange multipliers. More precisely, we study the oligopolistic market equilibrium problem in which the profit function depends also on previous events of the market by means of...

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Bibliographic Details
Published inOptimization methods & software Vol. 30; no. 2; pp. 253 - 275
Main Authors Barbagallo, A., Di Vincenzo, R.
Format Journal Article
LanguageEnglish
Published Abingdon Taylor & Francis 04.03.2015
Taylor & Francis Ltd
Subjects
Computer programs
Economic models
Economics
Evolutionary
Inequalities
Inequality
Lagrange duality
Lagrange multipliers
long-term memory
Markets
oligopolistic market equilibrium problem
Optimization
Recall
Regularity
Short term
Utilities
variational inequality
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Summary:The aim of this paper is to present the relation between an evolutionary variational inequality with long-term memory and Lagrange multipliers. More precisely, we study the oligopolistic market equilibrium problem in which the profit function depends also on previous events of the market by means of a long-term memory which takes into account the previous states of the equilibrium. Moreover, thanks to the variational formulation, we are able to show existence and regularity results for equilibrium solutions. Then, we apply the infinite dimensional duality theory through which we obtain the existence of Lagrange multipliers which are great utility in order to understand the behaviour of the market. Finally, an example is provided, which allows to analyse the influence of the long-term memory on the equilibrium solution.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
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ISSN:1055-6788
1029-4937
DOI:10.1080/10556788.2014.966822