6998 : Algorithmic Game Theory and Economics Mar 10 , 2011 Lecture 8 – Arrow - Debreu Exchange Market and Fisher ’ s Model
نویسنده
چکیده
4. Each trader also has a utility function ui : R+ → R+ and wants to maximize his own utility; Suppose each good j has a price pj ≥ 0. Without loss of generality, we assume the price vector p = (p1, p2, . . . , pn) satisfies ∑n j=1 pj = 1. We give the definition of optimal bundles: Definition 2 (Optimal Bundle). Given p ∈ ∆n and bi = ei · p = ∑ j∈[n] eij · pj, then xi ∈ R+ is an optimal bundle for trader i if the following two conditions hold:
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