The Computation of Economic equilibria [1/2]

Опубликовано 6 сентября 2016, 17:01

When and how can computers ?nd market equilibrium? There are many reasons why this question is interesting, stemming from the fact that computers are better at such a task than people. Natural cases of interest are when a computer can be substituted for a human, such as when using models to evaluate economic policies, or in markets specially designed to take advantage of computational resources. Or an algorithm to compute equilibrium could be considered as an indication that actual markets do reach equilibrium. The question is studied in two settings, a centralized, full information and static setting, and a distributed, limited information and dynamic setting. In the former setting, most of the algorithms known were for simple families of utility