Auction algorithms for market equilibrium

@inproceedings{Garg2004AuctionAF,
  title={Auction algorithms for market equilibrium},
  author={Rahul Garg and Sanjiv Kapoor},
  booktitle={STOC},
  year={2004}
}
In this paper we study algorithms for computing market equilibrium in markets with linear utility functions. The buyers in the market have an initial endowment given by a portfolio of items. The market equilibrium problem is to compute a price vector which ensures market clearing, i. e. the demand of a good equals its supply, and given the prices, each buyer maximizes its utility. The problem is of considerable interest in Economics. This paper presents a formulation of the market equilibrium… CONTINUE READING

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