Quasi-variational Analysis of a Dynamic Walrasian Competitive Exchange Economy

In this paper we propose a new definition of competitive equilibrium for an exchange economy model over time. At each moment consumer is characterized by an initial endowment and by an utility function, which he adopts for choosing the better consumption that he can afford. The actions, the constrain budget and the preferences described by utility functions depend on the price vector, time and the instantaneous commodity holding. With reference to a finite continuous time period, assuming that in this marketplace the mean value of the aggregate excess demand is non-positive and measuring its principal activities only in terms of mean values, we treat this setting as a pure exchange economy and for it we give an existence result of such equilibria by means of variational methods.