New Directions in Computational Economics

  • W. W. Cooper
  • A. B. Whinston

Part of the Advances in Computational Economics book series (AICE, volume 4)

Table of contents

  1. Front Matter
    Pages i-xiii
  2. Experimental and Computational Methods for Auction Mechanisms

    1. Front Matter
      Pages 1-1
    2. Gerald L. Thompson
      Pages 3-17
    3. Stephen Rassenti, Vernon Smith, Kevin McCabe
      Pages 41-54
  3. Modeling Computational Economic Systems

    1. Front Matter
      Pages 55-55
    2. Hans M. Amman, David A. Kendrick
      Pages 57-94
    3. Anna Nagurney, Sten Thore, Jie Pan
      Pages 95-120
    4. R. G. Thompson, Robert M. Thrall
      Pages 121-133
  4. Economic Modeling and Computational Systems

    1. Front Matter
      Pages 151-151
    2. Dale O. Stahl, Andrew B. Whinston
      Pages 175-189
    3. Reinhard Neck, Josef Matulka
      Pages 207-226
  5. Back Matter
    Pages 227-231

About this book


New Directions in Computational Economics brings together for the first time a diverse selection of papers, sharing the underlying theme of application of computing technology as a tool for achieving solutions to realistic problems in computational economics and related areas in the environmental, ecological and energy fields.
Part I of the volume addresses experimental and computational issues in auction mechanisms, including a survey of recent results for sealed bid auctions. The second contribution uses neural networks as the basis for estimating bid functions for first price sealed bid auctions. Also presented is the `smart market' computational mechanism which better matches bids and offers for natural gas.
Part II consists of papers that formulate and solve models of economics systems. Amman and Kendrick's paper deals with control models and the computational difficulties that result from nonconvexities. Using goal programming, Nagurney, Thore and Pan formulate spatial resource allocation models to analyze various policy issues. Thompson and Thrall next present a rigorous mathematical analysis of the relationship between efficiency and profitability. The problem of matching uncertain streams of assets and liabilities is solved using stochastic optimization techniques in the following paper in this section.
Finally, Part III applies economic concepts to issues in computer science in addition to using computational techniques to solve economic models.


calculus computational economics decision theory economics efficiency equilibrium international trade mathematical analysis modeling optimization stochastic optimization

Editors and affiliations

  • W. W. Cooper
    • 1
  • A. B. Whinston
    • 1
  1. 1.University of Texas at AustinUSA

Bibliographic information

  • DOI
  • Copyright Information Kluwer Academic Publishers and copyright holders 1994
  • Publisher Name Springer, Dordrecht
  • eBook Packages Springer Book Archive
  • Print ISBN 978-94-010-4330-4
  • Online ISBN 978-94-011-0770-9
  • Series Print ISSN 0929-130X
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking