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Application of M-Convex Submodular Flow Problem to Mathematical Economics

  • Kazuo Murota
  • Akihisa Tamura
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 2223)

Abstract

This paper shows an application of the M-convexs ubmodular flow problem to an economic model in which producers and consumers trade various indivisible commodities through a perfectly divisible commodity, money. We give an efficient algorithm to decide whether a competitive equilibrium exists or not, when cost functions of the producers are M♮-convex and utility functions of the consumers are M♮-concave and quasilinear in money. The algorithm consists of two phases: the first phase computes productions and consumptions in an equilibrium by solving an M-convexs ubmodular flow problem and the second finds an equilibrium price vector by solving a shortest path problem.

Keywords

Competitive Equilibrium Short Path Problem Convex Polyhedron Price Vector Initial Endowment 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2001

Authors and Affiliations

  • Kazuo Murota
    • 1
  • Akihisa Tamura
    • 1
  1. 1.RIMSKyoto UniversityKyotoJapan

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