COMPETITIVE EQUILIBKIUM COMPUTATIONS UNDER SEPARATED DEMAND FUNCTIONS

Date

1985

Author

ÖNAL, Hayri

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Market equiîibria can be soived by an optimization process if an aggregate demand function is supplied for each product. If consumers are grouped in broad categories with each group being attached a certain behaviour reflected by exp!icit demand functi- ons, serious computationaî difficulties may arise due to the cornp- Iex aîgebraic form of the aggregate demand. Simuîtaneous market equilibria as well as equilibrium transactions can stili be soived by a single optimization. A procedure is developed for finding the equilibria under such circumstances which will highly reduce the computationaî complexities.

URI

https://hdl.handle.net/11511/110885

Collections

Department of Industrial Engineering, Article