{"title":"Via Order Markets Towards Price-Taking Equilibrium","authors":"Sjur Didrik Flåm","doi":"10.1007/s10957-024-02441-2","DOIUrl":null,"url":null,"abstract":"<p>Can <i>order markets</i> lead participants towards <i>price-taking equilibrium</i>? Viewing market sessions as steps of iterative algorithms, this paper indicates positive prospects for convergence. Mathematical arguments turn on convolution, efficiency and generalized gradients. Economic arguments revolve around reservation costs, derived from indifference or threshold payments for quantities supplied or demanded.\n</p>","PeriodicalId":50100,"journal":{"name":"Journal of Optimization Theory and Applications","volume":"331 1","pages":""},"PeriodicalIF":1.6000,"publicationDate":"2024-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Optimization Theory and Applications","FirstCategoryId":"100","ListUrlMain":"https://doi.org/10.1007/s10957-024-02441-2","RegionNum":3,"RegionCategory":"数学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"MATHEMATICS, APPLIED","Score":null,"Total":0}
引用次数: 0
Abstract
Can order markets lead participants towards price-taking equilibrium? Viewing market sessions as steps of iterative algorithms, this paper indicates positive prospects for convergence. Mathematical arguments turn on convolution, efficiency and generalized gradients. Economic arguments revolve around reservation costs, derived from indifference or threshold payments for quantities supplied or demanded.
期刊介绍：
The Journal of Optimization Theory and Applications is devoted to the publication of carefully selected regular papers, invited papers, survey papers, technical notes, book notices, and forums that cover mathematical optimization techniques and their applications to science and engineering. Typical theoretical areas include linear, nonlinear, mathematical, and dynamic programming. Among the areas of application covered are mathematical economics, mathematical physics and biology, and aerospace, chemical, civil, electrical, and mechanical engineering.
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