Existence, Blow-Up, and Blow-Up Rate of Weak Solution to Fourth-Order Non-Newtonian Polytropic Variation-Inequality Arising from Consumption-Investment Models

Abstract

This article obtains the conditions for the existence and nonexistence of weak solutions for a variation-inequality problem. This variational inequality is constructed by a fourth-order non-Newtonian polytropic operator which is receiving much attention recently. Under the proper condition of the parameter, the existence of a solution is proved by constructing the initial boundary value problem of an ellipse by time discretization and some elliptic equation theory. Under the opposite parameter condition, we analyze the nonexistence of the solution. The results show that the weak solution will blow up in finite time. Finally, we give the blow-up rate and the upper bound of the blow-up time.