Economics, Econometrics and Finance
4 years ago

New convex program simplifies equilibrium solutions for market stability.

LSE Research Online Documents on Economics
A rational convex program for linear Arrow-Debreu markets
Nikhil R. Devanur, Jugal Garg, László A. Végh

Paper Summary

A new program has been developed to describe how prices are determined in certain markets. This program simplifies the process and proves that equilibrium prices exist and are rational. This settles a question that was previously unanswered. The program also confirms that equilibrium prices form a specific type of set.

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