Equilibrium is a concept used in operations research and economics to
understand the interplay of factors and problems arising from
competitive systems in the economic world. The problems in this area are
large and complex and have involved a variety of mathematical
methodologies.
In this monograph, the authors have widened the scope of theoretical
work with a new approach, `projected dynamical systems theory', to
previous work in variational inequality theory. While most classical
work in this area is static, the introduction to the theory of projected
dynamical systems will allow many real-life dynamic situations and
problems to be handled and modeled. This monograph includes:
a new theoretical approach, `projected dynamical system', which allows
the researcher to model real-life situations more accurately;
new mathematical methods allowing researchers to combine other
theoretical approaches with the projected dynamical systems approach;
a framework in which research can adequately model natural, financial
and human (real life) situations in competitive equilibrium problems;
the computational and numerical methods for the implementation of the
methods and theory discussed in the book;
stability analysis, algorithms and computational procedures are offered
for each set of applications.