Settling the Complexity of Arrow-Debreu Equilibria in Markets with Additively Separable Utilities
Computational Complexity
2009-04-07 v1 Computer Science and Game Theory
Abstract
We prove that the problem of computing an Arrow-Debreu market equilibrium is PPAD-complete even when all traders use additively separable, piecewise-linear and concave utility functions. In fact, our proof shows that this market-equilibrium problem does not have a fully polynomial-time approximation scheme unless every problem in PPAD is solvable in polynomial time.
Keywords
Cite
@article{arxiv.0904.0644,
title = {Settling the Complexity of Arrow-Debreu Equilibria in Markets with Additively Separable Utilities},
author = {Xi Chen and Decheng Dai and Ye Du and Shang-Hua Teng},
journal= {arXiv preprint arXiv:0904.0644},
year = {2009}
}