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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 inef cient, 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 speci c algorithm. The algorithm has been implemented and some performance properties, for a speci c example, are presented. 1, |
