Computing equilibrium prices: does theory meet practice?

Authors:
Bruno Codenotti;Benton McCune;Rajiv Raman;Kasturi Varadarajan
Affiliations:
Toyota Technological Institute at Chicago, Chicago, IL;Department of Computer Science, The University of Iowa, Iowa City, IA;Department of Computer Science, The University of Iowa, Iowa City, IA;Department of Computer Science, The University of Iowa, Iowa City, IA
Venue:
ESA'05 Proceedings of the 13th annual European conference on Algorithms
Year:
2005

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Abstract

The best known algorithms for the computation of market equilibria, in a general setting, are not guaranteed to run in polynomial time. On the other hand, simple poly-time algorithms are available for various restricted – yet important – markets. In this paper, we experimentally explore the gray zone between the general problem and the poly-time solvable special cases. More precisely, we analyze the performance of some simple algorithms, for inputs which are relevant in practice, and where the theory does not provide poly-time guarantees.