PUMA
Istituto di Informatica e Telematica     
Codenotti B., Varadarajan K. Efficient Computation of Equilibrium Prices for Markets with Leontief Utilities. In: ICALP 2004 - Automata, Languages and Programming: 31st International Colloquium (Turku, Finland, 2004). Proceedings, vol. 1 pp. 371 - 382. IEEE, 2004.
 
 
Abstract
(English)
We present a polynomial time algorithm for the computa- tion of the market equilibrium in a version of Fisher's model, where the traders have Leontief utility functions. These functions describe a mar- ket characterized by strict complementarity. Our algorithm follows from a representation of the equilibrium problem as a concave maximization problem, which is of independent interest. We also show how to apply this representation to a more general market setting, where the traders have utility functions from a wide family which includes CES utilities.
Subject Computation
Equilibrium
Markets
Leontief Utilities
F. Theory of Computation


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