相关论文: Amortized Analysis of Asynchronous Price Dynamics

This paper concerns asynchrony in iterative processes, focusing on gradient descent and tatonnement, a fundamental price dynamic. Gradient descent is an important class of iterative algorithms for minimizing convex functions. Classically,…

This paper continues the study, initiated by Cole and Fleischer, of the behavior of a tatonnement price update rule in Ongoing Fisher Markets. The prior work showed fast convergence toward an equilibrium when the goods satisfied the weak…

Analyzing simple and natural price-adjustment processes that converge to a market equilibrium is a fundamental question in economics. Such an analysis may have implications in economic theory, computational economics, and distributed…

A major goal in Algorithmic Game Theory is to justify equilibrium concepts from an algorithmic and complexity perspective. One appealing approach is to identify robust natural distributed algorithms that converge quickly to an equilibrium.…

In this paper, we initiate the study of t\^atonnement dynamics in markets with chores. T\^atonnement is a fundamental market dynamics, capturing how prices evolve when they are adjusted in proportion of their excess demand. While its…

T\^atonnement is a simple, intuitive market process where prices are iteratively adjusted based on the difference between demand and supply. Many variants under different market assumptions have been studied and shown to converge to a…

A prevalent theme in the economics and computation literature is to identify natural price-adjustment processes by which sellers and buyers in a market can discover equilibrium prices. An example of such a process is t\^atonnement, an…

Competitive equilibrium is a central concept in economics with numerous applications beyond markets, such as scheduling, fair allocation of goods, or bandwidth distribution in networks. Computation of competitive equilibria has received a…

In this paper, we bring consumer theory to bear in the analysis of Fisher markets whose buyers have arbitrary continuous, concave, homogeneous (CCH) utility functions representing locally non-satiated preferences. The main tools we use are…

A major goal in Algorithmic Game Theory is to justify equilibrium concepts from an algorithmic and complexity perspective. One appealing approach is to identify natural distributed algorithms that converge quickly to an equilibrium. This…

The canonical price-adjustment process, t\^atonnement, typically fails to converge to the exact competitive equilibrium (CE) and requires a high iteration complexity of $\tilde{\mathcal{O}}(1/\epsilon)$ to compute $\epsilon$-CE prices in…

This paper shows that in suitable markets, even with out-of-equilibrium trade allowed, a simple price update rule leads to rapid convergence toward the equilibrium. In particular, this paper considers a Fisher market repeated over an…

We study the Proportional Response dynamic in exchange economies, where each player starts with some amount of money and a good. Every day, the players bring one unit of their good and submit bids on goods they like, each good gets…

This paper proposes an alternative to the classical price-adjustment mechanism (called "t\^{a}tonnement" after Walras) that is second-order in time. The proposed mechanism, an analogue to the damped harmonic oscillator, provides a dynamic…

The t\^atonnement process and Smale's process are two classical approaches to compute market equilibrium in exchange economies. While the t\^atonnement process can be seen as a first-order method, Smale's process, being second-order, is…

In this work, we study a generalized Fisher market model that incorporates social influence. In this extended model, a buyer's utility depends not only on their own resource allocation but also on the allocations received by their…

We show an auction-based algorithm to compute market equilibrium prices in a production model, where consumers purchase items under separable nonlinear utility concave functions which satisfy W.G.S(Weak Gross Substitutes); producers produce…

In this article we revisit the classic problem of tatonnement in price formation from a microstructure point of view, reviewing a recent body of theoretical and empirical work explaining how fluctuations in supply and demand are slowly…

Proportional response is a well-established distributed algorithm which has been shown to converge to competitive equilibria in both Fisher and Arrow-Debreu markets, for various sub-families of homogeneous utilities, including linear and…

We introduce a new Self-Organized Criticality (SOC) model for simulating price evolution in an artificial financial market, based on a multilayer network of traders. The model also implements, in a quite realistic way with respect to…