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A Primal-Dual Algorithm for Computing Fisher Equilibrium in the Absence of Gross Substitutability Property [chapter]

Dinesh Garg, Kamal Jain, Kunal Talwar, Vijay V. Vazirani
2005 Lecture Notes in Computer Science  
We provide the first strongly polynomial time exact combinatorial algorithm to compute Fisher equilibrium for the case when utility functions do not satisfy the Gross substitutability property.  ...  The utility of a buyer (or sink) takes the form of a Leontief function which is known for not satisfying Gross substitutability property.  ...  Acknowledgment We would like to thank Philip A. Chou for several useful discussions.  ... 
doi:10.1007/11600930_4 fatcat:ietgmllfu5dzrb445fhj73ian4

A primal-dual algorithm for computing Fisher equilibrium in the absence of gross substitutability property

Dinesh Garg, Kamal Jain, Kunal Talwar, Vijay V. Vazirani
2007 Theoretical Computer Science  
We provide the first strongly polynomial time exact combinatorial algorithm to compute Fisher equilibrium for the case when utility functions do not satisfy the Gross substitutability property.  ...  The utility of a buyer (or sink) takes the form of a Leontief function which is known for not satisfying Gross substitutability property.  ...  Acknowledgment We would like to thank Philip A. Chou for several useful discussions.  ... 
doi:10.1016/j.tcs.2007.02.017 fatcat:ixt2rfaqcveojgpkdtpkhu66ii

Combinatorial Algorithms for Matching Markets via Nash Bargaining: One-Sided, Two-Sided and Non-Bipartite [article]

Ioannis Panageas, Thorben Tröbst, Vijay V. Vazirani
2022 arXiv   pre-print
remained a classic in economics for one-sided matching markets, is intractable; computation of even an approximate equilibrium is PPAD-complete [Vazirani, Yannakakis 2021], [Chen et al 2022].  ...  This led [Hosseini and Vazirani 2021] to define a rich collection of Nash-bargaining-based models for one-sided and two-sided matching markets, in both Fisher and Arrow-Debreu settings, together with implementations  ...  A large number of algorithms have been developed for computing a Fisher market equilibrium.  ... 
arXiv:2106.02024v3 fatcat:k3dd3dsoingwvnzri7vun3od3e

Market Equilibrium with Transaction Costs [chapter]

Sourav Chakraborty, Nikhil R. Devanur, Chinmay Karande
2010 Lecture Notes in Computer Science  
up the number of goods in the market, which affects the computational complexity of finding an equilibrium.  ...  We also provide a combinatorial algorithm that computes -approximate equilibrium prices and allocations in O 1 (n + log m)mn log(B/ ) operations.  ...  Devanur et al [DPSV08] gave a combinatorial algorithm based on the primal-dual schema to compute an exact equilibrium in the traditional model.  ... 
doi:10.1007/978-3-642-17572-5_43 fatcat:emm3drx5rnabzjhozkqbg3zhgy

Market Equilibrium with Transaction Costs [article]

Sourav Chakraborty, Nikhil Devanur, Chinmay Karande
2010 arXiv   pre-print
We provide a combinatorial algorithm that computes ϵ-approximate equilibrium prices and allocations in O(1/ϵ(n+m)mn(B/ϵ)) operations - where m is the number goods, n is the number of buyers and B is the  ...  For every buyer i and every good j, there is a transaction cost of ; if the price of good j is p_j, then the cost to the buyer i per unit of j is p_j + .  ...  [15] gave a combinatorial algorithm based on the primal-dual schema to compute an exact equilibrium in the traditional model.  ... 
arXiv:1001.0393v2 fatcat:tizaq62nlnazrhrzkxusesv6ti

INTERFUEL SUBSTITUTION: A META-ANALYSIS

David I. Stern
2010 Journal of economic surveys (Print)  
This paper fills this gap by analyzing a broad sample of studies of interfuel substitution in the industrial sector, manufacturing industry or subindustries, or macro-economy of a variety of developed  ...  Results for the shadow elasticities of substitution between coal, oil, gas, and electricity for forty-six primary studies show that at the level of the industrial sector there are easy substitution possibilities  ...  For non-homothetic technologies all the elasticities differ for net and gross substitution. • Primal and dual elasticities: Also known as the distinction between elasticities of complementarity and elasticities  ... 
doi:10.1111/j.1467-6419.2010.00646.x fatcat:w27oxgncgzbdxi63vt66sfnq6i

Lack of Memory [chapter]

2013 Encyclopedia of Operations Research and Management Science  
Furthermore, the relationship between the original problem (called the primal) and its dual is a symmetric one, so that the dual of the dual is the primal.  ...  There are many useful relationships between the primal and dual problems, so the dual provides considerable information for analyzing the primal.  ...  The algorithm proceeds in this fashion, level-by-level up to the highest echelon. The model has been implemented by a global computer manufacturer.  ... 
doi:10.1007/978-1-4419-1153-7_200373 fatcat:yem4y7syhze2pjtf3sop5fhak4

Optimal fiscal and monetary policy with sticky wages and sticky prices

Sanjay K. Chugh
2006 Review of economic dynamics (Print)  
Key for our results is an equilibrium restriction between nominal price inflation and nominal wage inflation that holds trivially in a Ramsey model featuring only sticky prices.  ...  Taken together, our results uncover features of Ramsey fiscal and monetary policy in the presence of a type of labor market imperfection that is widely-believed to be important.  ...  Low inflation volatility in response to shocks is a statement about the dynamic properties of optimal policy in our model.  ... 
doi:10.1016/j.red.2006.07.001 fatcat:6zq2mwdppfgp3m67dpmo6nmuqy

Optimal Fiscal and Monetary Policy with Sticky Wages and Sticky Prices

Sanjay K. Chugh
2005 Social Science Research Network  
Key for our results is an equilibrium restriction between nominal price inflation and nominal wage inflation that holds trivially in a Ramsey model featuring only sticky prices.  ...  Taken together, our results uncover features of Ramsey fiscal and monetary policy in the presence of a type of labor market imperfection that is widely-believed to be important.  ...  Low inflation volatility in response to shocks is a statement about the dynamic properties of optimal policy in our model.  ... 
doi:10.2139/ssrn.758426 fatcat:ariol3yi2vgn3ed324k4syeqxe

Abstracts of Working Papers in Economics

1990 Abstracts of Working Papers in Economics  
The kind of problems I describe are the numerical analysis' problem of finding zeros of polynomials and the economics' problem of finding the price equilibrium.  ...  South Korea and Taiwan provide a good test of the theory, as they have sharply different market structures. The results of the empirical analysis provide strong support for the hypothesis.  ...  TI Primal Dual Algorithm for the Lexicographically Optimal Base of a Submodular Polyhedron and its Relation to a Poset Greedoid. AA Josai University.  ... 
doi:10.1017/s0951007900001376 fatcat:prlowme45zbbvimduicvooieom

Chapter 26 Applied general equilibrium analysis of agricultural and resource policies [chapter]

Thomas W. Hertel
2002 Handbook of Agricultural Economics  
The paper closes with a discussion of future challenges to the field.  ...  This paper reviews the literature on applied general equilibrium analysis of agricultural and resource policies.  ...  This vastly reduces the computational cost of AGE analysis, which was an important consideration prior to the development of more efficient algorithms and more powerful computers.  ... 
doi:10.1016/s1574-0072(02)10008-9 fatcat:vnzbhss56facdo7znrkokrbkya

1 Introduction [chapter]

2019 Non-Extensive Entropy Econometrics for Low Frequency Series  
absence of convergence properties or, in the worst case, an inverse ill-behaved problem.  ...  In Part V, a computable general equilibrium (CGE) model is presented as a national account-related model.  ...  For a survey on the inheritance mechanism and other properties of a PL . Once again, for the direct relationships between a PL and non-extensive Tsallis entropy, refer to .  ... 
doi:10.1515/9783110605914-019 fatcat:yir426vzmjfgxpnhn2rmyjf6gq

Abstracts of Working Papers in Economics

1989 Abstracts of Working Papers in Economics  
, and (2) the variance in the percentage change in consumption is a monotone function of the age of the cohort.  ...  The null hypothesis of our test is that cohort differences in the average percentage change in consumption are due simply to sampling and measurement error.  ...  Romer, David paid little attention to the "marriage tax"the increase in the joint income tax liability of a man and woman when they marry.  ... 
doi:10.1017/s0951007900001133 fatcat:gece2r4j5bfwfhihguvkkuovga

Modelling Occasionally Binding Constraints Using Regime-Switching

Andrew Binning, Junior Maih
2017 Social Science Research Network  
(C.30) We assume these forms for the transition probabilities because they capture the nature of the primal feasibility (C.6) and dual feasibility (C.7) conditions.  ...  In the absence of a borrowing constraint, entrepreneurs demand for loans would be limitless, just as patient household's supply of loans would be limitless.  ...  In particular we introduce three two-state Markov chains, one for each of the occasionally binding constraints.  ... 
doi:10.2139/ssrn.3073753 fatcat:66zntiyiircnrkvkdftfwoewjq

Water quality modeling: A review of the analysis of uncertainty

M. B. Beck
1987 Water Resources Research  
Finally, thanks are due to Frances Donnelly for the preparation of the typescript. Gardner Mass., 1974. Gentil, S., A discrete model for the study of a lake, Appl. Math. Modell., 3, 193-198, 1979.  ...  Much of the work leading to the preparation of this review was conducted while the author was with the International Institute for Applied Systems Analysis (IIASA) at Laxenburg in Austria.  ...  In the absence of better choices it is sensible to substitute ii(t) = u(tk_ 1) for tkl :::; t:::; tk, i.e., to utilize the observed input information to generate the reference trajectory. 2.  ... 
doi:10.1029/wr023i008p01393 fatcat:it2k4gxb7bgc3mmmdwhyxi7sf4
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