This paper characterizes a supply function equilibrium in an auction market constrained by limited capacities of links in a transportation network and limited input/output capacities of participants.

Let S: X → X, T: Y → Y be continuous maps of compact metrizable spaces, and let π: X → Y be a continuous surjection with π ⚬ S = T ⚬ π. We investigate the notion of relative pressure, which was ...

We provide a microfoundation for the production function by using the concept of stochastic macro-equilibrium in Yoshikawa ("Stochastic Macro-equilibrium and Microfoundations for Keynesian Economics," ...