We suggest an approach to creation of general multi-commodity equilibrium models , where the current market state is supposed to be completely defined by the vector of the full transaction quantities of economic agents . These quantities must also satisfy the balance equation. The agents determine feasible transaction and price sets dependent of the current market state and can strike bargains changing market states . 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 .
We suggest a new approach to creation of general market equilibrium models involving economic agents with local and partial knowledge about the system and under different restrictions . The market equilibrium problem is then 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 .
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multi-commodity equilibrium models , where the current market state is supposed to be completely defined by the vector of the full transaction quantities of economic agents . These quantities must also satisfy the balance equation. The agents determine feasible transaction and price sets dependent of the current market state and can strike bargains changing market states
market equilibrium models involving economic agents with local and partial knowledge about the system and under different restrictions
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. This approach is utilized for derivation of existence results and for suggesting dynamic market processesconverging to equilibrium points
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