Convexity, convolution and competitive equilibrium
Journal article, Peer reviewed
Published version
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https://hdl.handle.net/11250/3091405Utgivelsesdato
2023Metadata
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Sammendrag
This paper considers a chief interface between mathematical programming and economics, namely: money-based trade of perfectly divisible and transferable goods. Three important and related features are singled out here: first, convexity enters via acceptable payments, second, convolution of monetary criteria secures Pareto efficiency, and third, competitive equilibrium obtains when agents' subdifferentials intersect.