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On Resource-Oriented Multi-Commodity Market Computations

This is a very technical and mathematical paper written for people knowledgeable in market-oriented programming.


In search for general equilibrium in multi-commodity markets, price-oriented schemes are normally used. That is, a set of prices (one price for each commodity) is updated until supply meets demand for each commodity. In some cases such an approach is very inefficient, and a resource-oriented scheme can be highly competitive. In a resource-oriented scheme the allocations are updated until the market equilibrium is found. It is well known that in a two-commodity market resource-oriented schemes are possible. In this paper we show that resource-oriented algorithms can be used for the general multi-commodity case as well, and present and analyze a specific algorithm. The algorithm has been implemented and some performance properties, for a specific example, are presented.

The entire paper in zipped PostScript format.

Listeners copy from the paper presentation at ICMAS 1998.

Last edited April 20, 1998 by fredrik.ygge@enersearch.se.