Exchange market equilibria with Leontief's utility: Freedom of pricing leads to rationality

Theoretical Computer Science

Volumn 378, Issue 2, 2007, Pages 134-142

  Ye, Yinyu ^a  

^a Stanford University   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

COMPUTATIONAL COMPLEXITY; FUNCTIONS; LINEAR PROGRAMMING; MARKETING; PROBLEM SOLVING;

ALGORITHMIC COMPLEXITY; ARROW-DEBREU MODEL; LEONTIEF EXCHANGE ECONOMIES;

ELECTRONIC COMMERCE;

EID: 34248165994     PISSN: 03043975     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.tcs.2007.02.016     Document Type: Article

References (28)

1. Arrow K.J., and Debreu G. Existence of an equilibrium for competitive economy. Econometrica 22 (1954) 265-290
2. W.C. Brainard, H.E. Scarf, How to compute equilibrium prices in 1891, Cowles Foundation Discussion Paper 1270, August 2000
3. B. Codenotti, K. Varadarajan, Efficient computation of equilibrium prices for market with Leontief utilities, in: Proceedings of ICALP'04
4. B. Codenotti, S. Pemmaraju, K. Varadarajan, On the polynomial time computation of equilibria for certain exchange economies, in: Proceedings of SODA'05
5. Cottle R., Pang J.S., and Stone R.E. The Linear Complementarity Problem (1992), Academic Press, Boston
6. X. Deng, S. Huang, Y. Ye, Computation of the Arrow-Debreu equilibrium for a class of non-homogenous utility functions, Technical Report, State Key Laboratory of Intelligent Technology and Systems, Dept. of Computer Science and Technology, Tsinghua Univ., Beijing, 10084, China
7. Deng X., Papadimitriou C.H., and Safra S. On the complexity of equilibria. Journal of Computer and System Sciences 67 (2003) 311-324
8. N.R. Devanur, C.H. Papadimitriou, A. Saberi, V.V. Vazirani, Market equilibria via a primal-dual-type algorithm, in: Proceedings of FOCS'02
9. Eaves B.C. A finite algorithm for the linear exchange model. Journal of Mathematical Economics 3 (1976) 197-203
10. Eaves B.C. Finite solution for pure trade markets with Cobb-Douglas utilities. Mathematical Programming Study 23 (1985) 226-239
11. Eisenberg E. Aggregation of utility functions. Management Sciences 7 (1961) 337-350
12. Eisenberg E., and Gale D. Consensus of subjective probabilities: The pari-mutuel method. Annals of Mathematical Statistics 30 (1959) 165-168
13. Gale D. The Theory of Linear Economic Models (1960), McGraw-Hill, NY
14. Güler O. Existence of interior points and interior paths in nonlinear monotone complementarity problems. Mathematics of Operations Research 18 (1993) 128-147
15. K. Jain, A polynomial time algorithm for computing the Arrow-Debreu market equilibrium for linear utilities, in: Proceedings of FOCS'04
16. K. Jain, M. Mahdian, A. Saberi, Approximating market equilibria, in: Proceedings of APPROX'03
17. K. Jain, V.V. Vazirani, Y. Ye, Market equilibria for homothetic, quasi-concave utilities and economies of scale in production, in: Proceedings of SODA'05
18. Karmarkar N. A new polynomial-time algorithm for linear programming. Combinatorica 4 (1984) 373-395
19. Kojima M., Megiddo N., Noma T., and Yoshise A. A Unified Approach for Interior-Point Algorithms for Linear Complementarity Problems. Lecture Notes in Computer Science 538 (1991), Springer-Verlag, Berlin
20. Megiddo N. Pathways to the optimal set in linear programming. In: Megiddo N. (Ed). Progress in Mathematical Programming: Interior Point and Related Methods (1989), Springer Verlag, New York 131-158
21. Nenakhov E., and Primak M. About one algorithm for finding the solution of the Arrow-Debreu model. Kibernetica 3 (1983) 127-128
22. Primak M. A converging algorithm for a linear exchange model. Journal of Mathematical Economics 22 (1993) 181-187
23. Saigal R. On the Class of Complementary Cones and Lemke's Algorithm. SIAM Journal of Applied Mathematics 23 1 (1972) 46-60
24. Scarf H.E. The Computation of Economic Equilibria (With collaboration of T. Hansen). Cowles Foundation Monograph vol. 24 (1973), Yale University Press, New Haven
25. Todd M.J. The Computation of Fixed Points and Applications. Lecture Notes in Economics and Mathematical Systems 124 (1976), Springer-Verlag, Berlin
26. L. Walras, Elements of Pure Economics, or the Theory of Social Wealth, 1874 (1899, 4th ed.; 1926, rev ed., 1954, Engl. Transl.)
27. Yang Z. Computing Equilibria and Fixed Points: The Solution of Nonlinear Inequalities (1999), Kluwer, Boston
28. Y. Ye, A path to the Arrow-Debreu competitive market equilibrium. Working Paper, Department of Management Science and Engineering, Stanford University, Stanford, CA 94305, 2004. Mathematical Programming (in press)