Tuesday, 16:15 - 16:40 h, Room: MA 043

 

Ruta Mehta
LCP and Lemke-type algorithm for markets with production

Coauthors: Jugal Garg, Vijay V. Vazirani

 

Abstract:
Building on the works of Eaves and Garg, Mehta, Sohoni and Vazirani, we
obtain an LCP that captures exactly the set of equilibria for Arrow-Debreu
and Fisher markets with separable, piecewise-linear concave (SPLC)
utilities and SPLC production, and we also give a complementary pivot algorithm for finding an equilibrium. This answers a question asked by Eaves in 1975. As corollaries, we obtain a proof of PPAD-completeness, an elementary proof of existence of equilibrium (i.e., without using a fixed point theorem), rationality, and oddness of the number of equilibria. Experiments show that our algorithm is practical.

 

Talk 3 of the invited session Tue.3.MA 043
"New LCP-based market equilibrium algorithms" [...]
Cluster 8
"Game theory" [...]

 

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