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What is Polynomial Time Market Equilibrium Algorithm about?

This document summarizes a research paper that presents the first polynomial-time algorithm for computing market equilibrium when buyers have linear utilities. The algorithm uses the primal-dual framework in the setting of convex programs and Karush-Kuhn-Tucker conditions. It alternates between updating the primal variables (allocations to buyers) and dual variables (good prices). The algorithm ensures decreases in total surplus money in each iteration and runs in polynomial time by considering only buyers

Author

Pollen Lucas

Language

EN