Before revision:  The market equilibrium problem is  formulated as a quasi-variational inequality . This approach is utilized for derivation of existence results and for suggesting dynamic market processesconverging to equilibrium points .
After revision:  The market equilibrium problem is formulated as a quasi-variational inequality that enables us to establish existence results for the model in different settings. We also describe dynamic processes, which fall into information exchange schemes of the proposed market model. In particular, we propose an iterative solution method for quasi-variational inequalities, which is based on evaluations of the proper market information only in a neighborhood of the current market state without knowledge of the whole feasible set and prove its convergence .