On Resource-Oriented Multi-Commodity Market Computations
|Author(s):||Fredrik Ygge, Hans Akkermans|
|Title:||On Resource-Oriented Multi-Commodity Market Computations|
|Organization:||Blekinge Institute of Technology|
|Department:||Dept. of Computer Science and Business Administration (Institutionen för datavetenskap och ekonomi)
Dept. of Computer Science and Business Administration S-372 25 Ronneby
+46 455 780 00
|Abstract:||In search for general equilibrium in multi-commodity markets, price-oriented schemes are normally used. That is, a set of prices
(one price for each commodity) is updated until supply meets demand for each commodity. In some cases such an approach is very inefficient, and a resource-oriented scheme can be highly competitive. In a resource-oriented scheme the allocations are updated until the market equilibrium is found. It is well known that in a two-commodity market resource-oriented schemes are possible. In this paper we show that resource-oriented algorithms can be used for the general multi-commodity case as well, and present and analyze a specific algorithm.
The algorithm has been implemented and some performance properties, for a specific example, are presented.
|Summary in Swedish:||Artikeln beskriver i detalj hur man kan beräkna en marknadsjämvikt genom att använda allokeringarna som de fria parametrarna.|
|Subject:||Computer Science\Artificial Intelligence
Computer Science\Distributed Computing
|Keywords:||Resource-oriented algorithms, market-oriented programming, computation of general equilibrium|
|Note:||This paper is an extended version of a paper published at the Third International Conference on Multi-Agent Systems, ICMAS 98. (See also http://cosmos.imag.fr/MAGMA/ICMAS98/)|