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A Progressive Equilibration Algorithm For General Market Equilibrium Problems Under Constraints

Author

Listed:
  • GANG QIAN

    (School of Computer Science and Technology, Nanjing Normal University, Nanjing 210023, P. R. China)

  • HONGJIN HE

    (School of Science, Hangzhou Dianzi University, Hangzhou 310018, P. R. China)

  • DEREN HAN

    (School of Mathematical Sciences, Jiangsu Key Laboratory for NSLSCS, Nanjing Normal University, Nanjing 210023, P. R. China)

Abstract

This paper considers the general Spatial Price Equilibrium (SPE) problem under constraints of supply-guarantee at demand markets and, in the meantime, protecting the scarce resources at supply markets. We first formulate the equilibrium problem as a variational inequality (VI) problem with partially unknown mapping. Then, we propose a progressive equilibration algorithm for solving the problem under consideration. The global convergence of the proposed method is proved under suitable assumptions. Some preliminary numerical results demonstrate the reliability of the proposed algorithm.

Suggested Citation

  • Gang Qian & Hongjin He & Deren Han, 2013. "A Progressive Equilibration Algorithm For General Market Equilibrium Problems Under Constraints," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 30(03), pages 1-18.
    • Handle: RePEc:wsi:apjorx:v:30:y:2013:i:03:n:s021759591340006x
    DOI: 10.1142/S021759591340006X
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