Abstract
Generalizations of Arrow and Debreu’s (1954) static model of production and consumption were made by many authors (e.g. Makarov and Rubinov (1977), Idzik and Simonsen (1983), Flåm (1981)).
A dynamic model of production and consumption, based on a game-theoretic approach, was presented at the 11th IFIP Conference on System Modelling and Optimization by Idzik and Simonsen (1983b).
In our paper we consider non-durable and durable economic processes in a dynamic model of production and consumption. We prove, under suitable assumptions, the existence of an equilibrium in this model for each of the economic processes.
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References
Arrow, K.J. and Debreu, G. (1954): Existence of an equilibrium for a competitive economy. Econometrica, 22: 265–290.
Flâm, S.D. (1981): Equilibria in noncooperative games and competitive economies. Tamkang J. Math., 12: 47–57
Idzik, A and Simonsen, P.B. (1983a): A game-theoretic Arrow-Debreu model. In: Transactions of the Ninth Prague Conference on Information Theory, Academia, Prague, 293–299.
Idzik, A. and Simonsen, P.B. (1983b): A dynamic model of production and consumption. In: Abstracts of 11th IFIP Conference on System Modelling and Optimization. Copenhagen, July 25–29.
Makarov, V.L. and Rubinov, A.M, (1977): Mathematical theory of economic dynamics and equilibria. Springer-Verlag, New York.
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© 1988 Academia, Publishing House of the Czechoslovak Academy of Sciences, Prague
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Idzik, A., Simonsen, P.B. (1988). Non-durable and Durable Economic Processes in a Dynamic Model of Production and Consumption. In: Višek, J.Á. (eds) Transactions of the Tenth Prague Conference. Czechoslovak Academy of Sciences, vol 10A-B. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-3859-5_43
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DOI: https://doi.org/10.1007/978-94-009-3859-5_43
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-8216-7
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