Uniqueness of market equilibria on networks with transport costs

Existence of Sunspot Equilibria and Uniqueness of Spot Market Equilibria: The Case of Intrinsically Complete Markets

Supply Function Equilibria in Networks with Transport Constraints

Transport constraints limit competition and arbitrageurs’possibilities of exploiting price differences between goods in neighbouring markets, especially when storage capacity is negligible. We analyse this in markets where strategic producers compete with supply functions, as in wholesale electricity markets. For networks with a radial structure, we show that existence of supply function equili...

On Nash Dynamics of Matching Market Equilibria

In this paper, we study the Nash dynamics of strategic interplays of n buyers in a matching marketsetup by a seller, the market maker. Taking the standard market equilibrium approach, upon receivingsubmitted bid vectors from the buyers, the market maker will decide on a price vector to clear themarket in such a way that each buyer is allocated an item for which he desires the most (...

On Complexity of Market Equilibria with Maximum Social Welfare

We consider the computational complexity of the Market equilibrium problem by exploring the structural properties of the Leontief exchange economy. We prove that, for economies guaranteed to have a market equilibrium, finding one with maximum social welfare or maximum individual welfare is NP-hard. In addition, we prove that counting the number of equilibrium prices is #P-hard.

On the complexity of market equilibria with maximum social welfare

We consider the computational complexity of the market equilibrium problem by exploring the structural properties of the Leontief exchange economy. We prove that, for economies guaranteed to have a market equilibrium, finding one with maximum social welfare or maximum individual welfare is NP-hard. In addition, we prove that counting the number of equilibrium prices is #P-hard.