Eisenberg-Gale markets: algorithms and structural properties

  • Authors:
  • Kamal Jain;Vijay V. Vazirani

  • Affiliations:
  • Microsoft Research, Remond, WA;Georgia Institute of Technology, Atlanta, GA

  • Venue:
  • Proceedings of the thirty-ninth annual ACM symposium on Theory of computing
  • Year:
  • 2007

Quantified Score

Hi-index 0.00

Visualization

Abstract

We define a new class of markets, the Eisenberg-Gale markets. This class contains Fisher's linear market, markets from the resource allocation framework of Kelly kelly, as well as numerous interesting new markets.We obtain combinatorial, strongly polynomial algorithms for severalmarkets in this class. Our algorithms have a simple description as ascending price auctions. Our algorithms lead to insights into the efficiency, fairness, rationality of solutions, and competition monotonicity of these markets. A classification of Eisenberg-Gale markets w.r.t. these properties reveals a surprisingly rich set of possibilities.