A mathematical programming approach for different scenarios of bilateral bartering
Nasini, Stefano (Universitat Politècnica de Catalunya)
Castro, Jordi (Universitat Politècnica de Catalunya)
Fonseca, Pau (Universitat Politècnica de Catalunya)

Date:	2015
Abstract:	The analysis of markets with indivisible goods and fixed exogenous prices has played an important role in economic models, especially in relation to wage rigidity and unemployment. This paper provides a novel mathematical programming based approach to study pure exchange economies where discrete amounts of commodities are exchanged at fixed prices. Barter processes, consisting in sequences of elementary reallocations of couple of commodities among couples of agents, are formalized as local searches converging to equilibrium allocations. A direct application of the analysed processes in the context of computational economics is provided, along with a Java implementation of the described approaches.
Rights:	Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, i la comunicació pública de l'obra, sempre que no sigui amb finalitats comercials, i sempre que es reconegui l'autoria de l'obra original. No es permet la creació d'obres derivades.
Language:	Anglès
Document:	Article ; recerca ; Versió publicada
Subject:	Numerical optimization ; Combinatorial optimization ; Microeconomic theory
Published in:	SORT : statistics and operations research transactions, Vol. 39 Núm. 1 (January-June 2015) , p. 85-108 (Articles) , ISSN 2013-8830

Adreça alternativa: https://raco.cat/index.php/SORT/article/view/294379

24 p, 266.8 KB

The record appears in these collections:
Articles > Published articles > SORT
Articles > Research articles