We propose an extension of the auction model with many divisible commodities for vector price (validity) functions. It can be viewed as a new general equilibrium model for complex systems with active elements. We give its sufficient vector variational inequality formulation and new general...

We propose several new equilibrium models for auction based markets and show that they admit equivalent variational inequality formulations. This approach simplifies essentially both the derivation of existence and uniqueness results and construction of efficient solution methods. The new models...

We consider a general auction model with infinitely divisible commodity and price functions and give a new existence result in the case of the unbounded feasible set. We show that equilibrium states in the Cournot oligopoly can be attained via this auction mechanism. This property holds also...