The spending constraint model for market equilibrium: algorithmic, existence and uniqueness results

The traditional model of market equilibrium supports impressive existence results, including the celebrated Arrow-Debreu Theorem. However, in this model, polynomial time algorithms for computing (or approximating) equilibria are known only for linear utility functions. We present a new, and natural, model of market equilibrium that not only admits existence and uniqueness results paralleling those for the traditional model but is also amenable to efficient algorithms.

Authors

• Nikhil R. Devanur

Keywords

No keywords are indexed for this paper.