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Computing Economic Equilibria by a Homotopy Method

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  • Zoltan Pap

Abstract

In this paper the possibility of computing equilibrium in pure exchange and production economies by a homotopy method is investigated. The performance of the algorithm is tested on examples with known equilibria taken from the literature on general equilibrium models and numerical results are presented. In computing equilibria, economy will be specified by excess demand function.

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  • Zoltan Pap, 2011. "Computing Economic Equilibria by a Homotopy Method," Papers 1110.5144, arXiv.org.
    • Handle: RePEc:arx:papers:1110.5144
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    1. Mercedes Esteban-Bravo, 2004. "Computing Equilibria in General Equilibrium Models via Interior-point Methods," Computational Economics, Springer;Society for Computational Economics, vol. 23(2), pages 147-171, March.
    2. Kehoe, Timothy J., 1991. "Computation and multiplicity of equilibria," Handbook of Mathematical Economics, in: W. Hildenbrand & H. Sonnenschein (ed.), Handbook of Mathematical Economics, edition 1, volume 4, chapter 38, pages 2049-2144, Elsevier.
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