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Notes on Computational Complexity of GE Inequalities

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Abstract

Recently, Cheryche et al. (2011) proved the important negative result that deciding the strong feasibility of the Marshallian equilibrium inequalities, introduced by Brown and Matzkin (1996), is NP-complete. Here, I show that the weak feasibility of the equivalent Hicksian equilibrium inequalities, introduced by Brown and Shannon (2000), can be decided in oracle-polynomial time.

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  • Donald J. Brown, 2012. "Notes on Computational Complexity of GE Inequalities," Cowles Foundation Discussion Papers 1865, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:1865
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    References listed on IDEAS

    as
    1. Donald J. Brown & Chris Shannon, 2000. "Uniqueness, Stability, and Comparative Statics in Rationalizable Walrasian Markets," Econometrica, Econometric Society, vol. 68(6), pages 1529-1540, November.
    2. Charles Steinhorn, 2008. "Tame Topology and O-Minimal Structures," Lecture Notes in Economics and Mathematical Systems, in: Computational Aspects of General Equilibrium Theory, pages 165-191, Springer.
    3. Donald J. Brown & Rosa L. Matzkin, 2008. "Testable Restrictions on the Equilibrium Manifold," Lecture Notes in Economics and Mathematical Systems, in: Computational Aspects of General Equilibrium Theory, pages 11-25, Springer.
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    More about this item

    Keywords

    General equilibrium inequalities; Computational complexity;

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models

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