Application of M-Convex submodular flow problem to mathematical economics

Kazuo Murota, Akihisa Tamura

Research output: Chapter in Book/Report/Conference proceedingConference contribution

6 Citations (Scopus)

Abstract

This paper shows an application of the M-convexs ubmodular flow problem to an economic model in which producers and consumers trade various indivisible commodities through a perfectly divisible commodity, money. We give an efficient algorithm to decide whether a competitive equilibrium exists or not, when cost functions of the producers are M« convex and utility functions of the consumers are M« concave and quasilinear in money. The algorithm consists of two phases: the first phase computes productions and consumptions in an equilibrium by solving an M-convexs ubmodular flow problem and the second finds an equilibrium price vector by solving a shortest path problem.

Original languageEnglish
Title of host publicationAlgorithms and Computation - 12th International Symposium, ISAAC 2001, Proceedings
Pages14-25
Number of pages12
DOIs
Publication statusPublished - 2001 Dec 1
Externally publishedYes
Event12th International Symposium on Algorithms and Computation, ISAAC 2001 - Christchurch, New Zealand
Duration: 2001 Dec 192001 Dec 21

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume2223 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Other

Other12th International Symposium on Algorithms and Computation, ISAAC 2001
CountryNew Zealand
CityChristchurch
Period01/12/1901/12/21

ASJC Scopus subject areas

  • Theoretical Computer Science
  • Computer Science(all)

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  • Cite this

    Murota, K., & Tamura, A. (2001). Application of M-Convex submodular flow problem to mathematical economics. In Algorithms and Computation - 12th International Symposium, ISAAC 2001, Proceedings (pp. 14-25). (Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics); Vol. 2223 LNCS). https://doi.org/10.1007/3-540-45678-3_2