An Improved Approximation Scheme for Computing Arrow-Debreu Prices for the Linear Case

  • Conference paper
FST TCS 2003: Foundations of Software Technology and Theoretical Computer Science (FSTTCS 2003)

Part of the book series: Lecture Notes in Computer Science ((LNCS,volume 2914))

Abstract

Recently, Jain, Mahdian and Saberi [5] had given a FPTAS for the problem of computing a market equilibrium in the Arrow-Debreu setting, when the utilities are linear functions. Their running time depended on the size of the numbers representing the utilities and endowments of the buyers. In this paper, we give a strongly polynomial time approximation scheme for this problem. Our algorithm builds upon the main ideas behind the algorithm in [3].

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Subscribe and save

Springer+ Basic
EUR 32.99 /Month
  • Get 10 units per month
  • Download Article/Chapter or Ebook
  • 1 Unit = 1 Article or 1 Chapter
  • Cancel anytime
Subscribe now

Buy Now

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 39.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free ship** worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Similar content being viewed by others

References

  1. Arrow, K.K., Debreu, G.: Existence of an Equilibrium for a Competitive Economy. Econometrica 22, 265–290 (1954)

    Article  MATH  MathSciNet  Google Scholar 

  2. Deng, X., Papadimitriou, C.H., Safra, S.: On the Complexity of Equilibria. In: Proc. STOC (2002)

    Google Scholar 

  3. Devanur, N.R., Papadimitriou, C.H., Saberi, A., Vazirani, V.V.: Market Equilibrium via a Primal-Dual-Type Algorithm. In: Proc. FOCS (2002)

    Google Scholar 

  4. Devanur, N.R., Papadimitriou, C.H., Saberi, A., Vazirani, V.V.: Market Equilibrium via a Primal-Dual-Type Algorithm. Full version, Available at http://www.cc.gatech.edu/nikhil/pubs/market-full.ps

  5. Jain, K., Mahdian, M., Saberi, A.: Approximating Market Equilibrium. To appear in Proc. APPROX (2003)

    Google Scholar 

  6. Scarf, H.: The Computation of Economic Equilibria (with collaboration of T. Hansen). Cowles Foundation Monograph 24 (1973)

    Google Scholar 

  7. Walras, L.: Éléments d’économie politique pure; ou, Théorie de la richesse sociale (Elements of Pure Economics, or the theory of social wealth). Lausanne, Paris, 1874 (1899, 4th ed.; 1926, rev ed., 1954, Engl. transl.)

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2003 Springer-Verlag Berlin Heidelberg

About this paper

Cite this paper

Devanur, N.R., Vazirani, V.V. (2003). An Improved Approximation Scheme for Computing Arrow-Debreu Prices for the Linear Case. In: Pandya, P.K., Radhakrishnan, J. (eds) FST TCS 2003: Foundations of Software Technology and Theoretical Computer Science. FSTTCS 2003. Lecture Notes in Computer Science, vol 2914. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-24597-1_13

Download citation

  • DOI: https://doi.org/10.1007/978-3-540-24597-1_13

  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-540-20680-4

  • Online ISBN: 978-3-540-24597-1

  • eBook Packages: Springer Book Archive

Publish with us

Policies and ethics

Navigation