Computing an Asymmetric Competitive Market Equilibrium
Demand and supply are often asymmetric, that is, cross-price effects are not equal over all commodities Because of asymmetry, conventional surplus maximization formulations cannot be employed to compute a competitive market equilibrium Thid article compares alternative formulations under a system of equation, optimization, and iterative procedures for computation A general strategy for selecting an appropriate procedure is presented The iterative procedure is recommended for structural or complex nonlinear demand systems or for extremely large (size) problems The optimization procedure is suggested for large and medium (size) problems because of the availability of a computer solution package The system of equation formulation is suggested for modeling various types of economic behavior because of Its flexlblilty
Volume (Year): (1987)
Issue (Month): 3 ()
|Contact details of provider:|| Postal: |
Web page: http://www.ers.usda.gov/
More information through EDIRC
References listed on IDEAS
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.:
- Chipman, John S & Moore, James C, 1980. "Compensating Variation, Consumer's Surplus, and Welfare," American Economic Review, American Economic Association, vol. 70(5), pages 933-49, December.
- C. E. Lemke, 1965. "Bimatrix Equilibrium Points and Mathematical Programming," Management Science, INFORMS, vol. 11(7), pages 681-689, May.
- Littlechild, S. C. & Rousseau, J. J., 1975. "Pricing policy of a U.S. telephone company," Journal of Public Economics, Elsevier, vol. 4(1), pages 35-56, February.
When requesting a correction, please mention this item's handle: RePEc:ags:uersja:136854. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.