Lagrangean variables in infinite dimensional spaces for a dynamic economic equilibrium problem Original Research Article

This paper is focused on the study of a dynamic competitive equilibrium by using Lagrangean multipliers. This mathematical formulation allows us the improve the Walrasian model by considering the common possibility of an uncharged delayed payment in a given time (for example, by using a credit card). Firstly the economic equilibrium problem is reformulated as an evolutionary variational problem; then the Lagrangean theory in infinite dimensional spaces is applied. Thanks to the application of this theory we obtain the existence of Lagrangean multipliers, which allows us to give a computational procedure for the equilibrium solutions.