Advanced Topics in Machine Learning and Algorithmic Game Theory Fall semester , 2011 / 12 Lecture 10 : Market Equilibrium
نویسنده
چکیده
Today topic is market equilibrium. The basic elements of a market are buyers and product (and there are also potentially sellers). The goal is to nd prices that clear the market. Namely, under those prices every product is completely sold, and there is no remaining demand. In other words, we would like to achieve a state where demand equals supply. This is probably one of the most important conceptual contributions of economic theory to the everyday life. The assumption that if we let the market set the prices then the market will reach prices that will clear the market.
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Advanced Topics in Machine Learning and Algorithmic Game Theory Fall semester , 2011 / 12 Lecture 8 : Information Cascading
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