The Complexity of Non-Monotone Markets

被引：0
|
作者：
Chen, Xi [1 ]
Paparas, Dimitris [1 ]
Yannakakis, Mihalis [1 ]
机构：
[1] Columbia Univ, New York, NY 10027 USA
来源：
STOC'13: PROCEEDINGS OF THE 2013 ACM SYMPOSIUM ON THEORY OF COMPUTING | 2013年
关键词：
Market equilibrium; computational complexity; CES utility; PPAD; FIXP; POLYNOMIAL-TIME; EQUILIBRIUM; EXISTENCE;
D O I：
暂无
中图分类号：
TP301 [理论、方法];
学科分类号：
081202 ;
摘要：
We introduce the notion of non-monotone utilities, which covers a wide variety of utility functions in economic theory. We show that it is PPAD-hard to compute an approximate Arrow-Debreu market equilibrium in markets with linear and non-monotone utilities. Building on this result, we settle the long-standing open problem regarding the computation of an approximate Arrow-Debreu market equilibrium in markets with CES utilities, by proving that it is PPAD-complete when the Constant Elasticity of Substitution parameter, rho, is any constant less than -1.
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页码：181 / 190
页数：10
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