TY - JOUR
T1 - On the complexity of price equilibria
AU - Deng, Xiaotie
AU - Papadimitriou, Christos
AU - Safra, Shmuel
N1 - Funding Information:
Research supported by NSF Grants ITR-0081698 and ITR-0121555, an IBM faculty development award, a Grant from RGC of HK SAR, China (CityU1081/02E) and a Grant of City University of Hong Kong (7001215).
PY - 2003/9
Y1 - 2003/9
N2 - We prove complexity, approximability, and inapproximability results for the problem of finding an exchange equilibrium in markets with indivisible (integer) goods, most notably a polynomial algorithm that approximates the market equilibrium arbitrarily close when the number of goods is bounded and the utilities linear. We also show a communication complexity lower bound in a model appropriate for markets. Our result implies that the ideal informational economy of a market with divisible goods and unique optimal allocations is unattainable in general.
AB - We prove complexity, approximability, and inapproximability results for the problem of finding an exchange equilibrium in markets with indivisible (integer) goods, most notably a polynomial algorithm that approximates the market equilibrium arbitrarily close when the number of goods is bounded and the utilities linear. We also show a communication complexity lower bound in a model appropriate for markets. Our result implies that the ideal informational economy of a market with divisible goods and unique optimal allocations is unattainable in general.
UR - http://www.scopus.com/inward/record.url?scp=0142091464&partnerID=8YFLogxK
U2 - 10.1016/S0022-0000(03)00011-4
DO - 10.1016/S0022-0000(03)00011-4
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AN - SCOPUS:0142091464
SN - 0022-0000
VL - 67
SP - 311
EP - 324
JO - Journal of Computer and System Sciences
JF - Journal of Computer and System Sciences
IS - 2
ER -