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Published June 2012 | Published
Book Section - Chapter Open

Finding a Walrasian Equilibrium is Easy for a Fixed Number of Agents


In this work, we study the complexity of finding a Walrasian equilibrium. Our main result gives an algorithm which can compute an approximate Walrasian equilibrium in an exchange economy with general, but well-behaved, utility functions in time that is polynomial in the number of goods when the number of agents is held constant. This result has applications to macroeconomics and finance, where applications of Walrasian equilibrium theory tend to deal with many goods but a fixed number of agents.

Additional Information

Copyright is held by the author/owner(s). This work is supported by the National Science Foundation, under grant CCF-1101470. We thank Chris Umans, Jeremy Hurwitz, Daniel Golovin, and Ilya Segal for their advice and comments on this work.

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August 19, 2023
August 19, 2023