Network economics: a variational inequality approach (Q1921378): Difference between revisions

From MaRDI portal
RedirectionBot (talk | contribs)
Removed claims
Import240304020342 (talk | contribs)
Set profile property.
 
(One intermediate revision by one other user not shown)
Property / author
 
Property / author: Anna Nagurney / rank
 
Normal rank
Property / reviewed by
 
Property / reviewed by: Stephen J. Turnbull / rank
 
Normal rank
Property / MaRDI profile type
 
Property / MaRDI profile type: MaRDI publication profile / rank
 
Normal rank

Latest revision as of 06:17, 5 March 2024

scientific article
Language Label Description Also known as
English
Network economics: a variational inequality approach
scientific article

    Statements

    Network economics: a variational inequality approach (English)
    0 references
    26 August 1996
    0 references
    The subject is captured by the book's title, ``Network Economics: A variational inequality approach.'' It is accurately and clearly written. Its statement of focus is an example: ``Physical networks are pervasive in today's society, be they in the form of transportation networks, telecommunication networks, energy pipelines, electric power networks, etc. Mathematical networks, on the other hand, may be used to represent not only physical networks but also interactions among economic agents. \(\ldots\) The identification of the network underlying an economic problem provides an added dimension to the analysis and computation of equilibria. For example, not only can the complexity of problems be more readily grasped through a graphical depiction, but issues of structural change and policy interventions may be addressed through modifications of the network.'' The book is successful in demonstrating these relationships and applications of network analysis. Based on a unified principle of analysis, it is an excellent text for students with a certain level of mathematical sophistication (good courses in matrix algebra and multivariate real analysis), whether in a lecture course or for self-study. The necessary tools of analysis, both variational analysis and the most common computational algorithms, are reviewed in the first two chapters. The remainder of the book contains a selection of self-contained applications of network analysis to a number of economic equilibrium problems. These cover a broad range of economic problems: partial equilibrium analysis of perfect competition (spatial price equilibrium, traffic network equilibrium, and migration equilibrium); partial equilibrium analysis of imperfect competition (classical and spatial oligopoly models); general equilibrium analysis (Walrasian models, and financial models); and estimation (constrained matrices, and financial flow-of-funds problems). Each chapter (each of the topics in parentheses above corresponds to a chapter) contains detailed discussion of the computation of solutions to the problem, and several describe computational experience (in terms of computational resources required) for realistic problems. Examples of computation solutions are given, but not with realistic problems. The book's only weakness is the lack of a software and databank `companion' to provide examples of realistic problems that the reader could load onto a computer and work out. One would expect that most lecturers in the field would have their own research to draw realistic examples from, but a data\slash software companion would be helpful for self-study.
    0 references
    network economics
    0 references
    variational inequality
    0 references
    interactions among economic agents
    0 references
    computation of equilibria
    0 references
    0 references

    Identifiers

    0 references
    0 references
    0 references
    0 references
    0 references