IDEAS home Printed from https://ideas.repec.org/a/inm/ortrsc/v23y1989i2p118-124.html
   My bibliography  Save this article

Supply and Demand Equilibration Algorithms for a Class of Market Equilibrium Problems

Author

Listed:
  • Stella Dafermos

    (Brown University, Providence, Rhode Island 02912)

  • Anna Nagurney

    (University of Massachusetts, Amherst, Massachusetts 01003)

Abstract

In this paper, we describe a family of progressive equilibration algorithms which can be used to solve a variety of market equilibrium problems such as the general spatial price equilibrium problem, the single price spatial price equilibrium problem, etc. They are relaxation-type algorithms which attempt to equilibrate the whole system by equilibrating successively each supply market (producer), or each demand market (consumer). One noteworthy feature of these algorithms is that, due to the special structure of the problem, the restricted equilibrium for each supply market (or demand market) can be obtained explicitly in closed form; another feature is that they are intuitive and straightforward to implement. Moreover, the computational results demonstrate that the algorithms are efficient and suitable for large-scale problems.

Suggested Citation

  • Stella Dafermos & Anna Nagurney, 1989. "Supply and Demand Equilibration Algorithms for a Class of Market Equilibrium Problems," Transportation Science, INFORMS, vol. 23(2), pages 118-124, May.
    • Handle: RePEc:inm:ortrsc:v:23:y:1989:i:2:p:118-124
    DOI: 10.1287/trsc.23.2.118
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/trsc.23.2.118
    Download Restriction: no
    File URL: https://libkey.io/10.1287/trsc.23.2.118?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Patriksson, Michael, 2008. "A survey on the continuous nonlinear resource allocation problem," European Journal of Operational Research, Elsevier, vol. 185(1), pages 1-46, February.
    2. Nagurney, Anna & Takayama, Takashi & Zhang, Ding, 1995. "Massively parallel computation of spatial price equilibrium problems as dynamical systems," Journal of Economic Dynamics and Control, Elsevier, vol. 19(1-2), pages 3-37.
    3. He, Bingsheng & He, Xiao-Zheng & Liu, Henry X. & Wu, Ting, 2009. "Self-adaptive projection method for co-coercive variational inequalities," European Journal of Operational Research, Elsevier, vol. 196(1), pages 43-48, July.
    4. Zhao, Lan & Nagurney, Anna, 2008. "A network equilibrium framework for Internet advertising: Models, qualitative analysis, and algorithms," European Journal of Operational Research, Elsevier, vol. 187(2), pages 456-472, June.
    5. Konur, Dinçer & Geunes, Joseph, 2012. "Competitive multi-facility location games with non-identical firms and convex traffic congestion costs," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(1), pages 373-385.
    6. C. W. Yang & Ken Hung, 2010. "Stability Of Rents And Returns As A Source Of Internal Financing: Evidence From Appalachian Coal Producers," Accounting & Taxation, The Institute for Business and Finance Research, vol. 2(1), pages 33-46.
    7. Li, Min & Liao, Li-Zhi & Yuan, Xiao-ming, 2008. "A modified descent method for co-coercive variational inequalities," European Journal of Operational Research, Elsevier, vol. 189(2), pages 310-323, September.
    8. Walter C. Labys & Chin-wei Yang, 1991. "Advances in the Spatial Equilibrium Modeling of Mineral and Energy Issues," International Regional Science Review, , vol. 14(1), pages 61-94, April.
    9. Bing-sheng He & Wei Xu & Hai Yang & Xiao-Ming Yuan, 2011. "Solving Over-production and Supply-guarantee Problems in Economic Equilibria," Networks and Spatial Economics, Springer, vol. 11(1), pages 127-138, March.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:ortrsc:v:23:y:1989:i:2:p:118-124. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.