Kakutani Fixed-Point Theorem
The Kakutani Fixed-Point Theorem is a fundamental result in mathematics, particularly in the field of game theory and topology. It states that for any non-empty, compact, and convex subset of a Euclidean space, if a certain type of function (called a "set-valued function") is upper hemicontinuous and has a closed graph, then there exists at least one point in the set that maps to itself. This point is known as a "fixed point."
This theorem generalizes the classical Brouwer Fixed-Point Theorem, which applies to single-valued functions. The Kakutani theorem is particularly useful in economics and optimization, as it helps to establish the existence of equilibria in various strategic situations, where multiple agents interact and make decisions simultaneously.