An auction-based market equilibrium algorithm for a production model

  • Authors:
  • Sanjiv Kapoor;Aranyak Mehta;Vijay Vazirani

  • Affiliations:
  • Department of Computer Science, Illinois Institute of Technology, Chicago, IL-60616, USA;College of Computing, Georgia Institute of Technology, Atlanta, USA;College of Computing, Georgia Institute of Technology, Atlanta, USA

  • Venue:
  • Theoretical Computer Science
  • Year:
  • 2007

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Abstract

We present an auction-based algorithm for computing market equilibrium prices in a production model, in which producers have a single linear production constraint, and consumers have linear utility functions. We provide algorithms for both the Fisher and Arrow-Debreu versions of the problem.