Existence of Equilibrium in Discrete Market Games
AbstractIn this paper we show that a feasible price allocation pair is a market equilibrium of a discrete market game if and only if it solves a linear programming problem. We use this result to obtain computable necessary and sufficient conditions for the existence of market equilibrium. We assume that the production functions of the profit maximizing agents are discrete concave.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by EconWPA in its series Game Theory and Information with number 0512005.
Date of creation: 20 Dec 2005
Date of revision:
Note: Type of Document - pdf
Contact details of provider:
Web page: http://220.127.116.11
discrete concave; existence; market equilibrium; linear programming;
Find related papers by JEL classification:
- C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-01-01 (All new papers)
- NEP-GTH-2006-01-01 (Game Theory)
- NEP-MIC-2006-01-01 (Microeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Shapley, Lloyd S. & Shubik, Martin, 1969. "On market games," Journal of Economic Theory, Elsevier, vol. 1(1), pages 9-25, June.
- Somdeb Lahiri, 2005. "Manipulation via Endowments in a Market with Profit Maximizing Agents," Game Theory and Information 0511008, EconWPA.
- Zaifu YANG & Ning SUN, 2004. "The Max-Convolution Approach to Equilibrium Models with Indivisibilities," Econometric Society 2004 Far Eastern Meetings 564, Econometric Society.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA).
If references are entirely missing, you can add them using this form.