Proportional response dynamics in the Fisher market (Q541676)
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scientific article; zbMATH DE number 5905029
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| English | Proportional response dynamics in the Fisher market |
scientific article; zbMATH DE number 5905029 |
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Proportional response dynamics in the Fisher market (English)
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7 June 2011
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A dynamic process where budget allocations are proportional to the current good utilities is considered for the Fisher market. It is supposed that the utilities have constant elasticity of substitution. The author establishes convergence of the process to an equilibrium and evaluates its rate of convergence.
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Fisher market
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proportional dynamics
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equilibrium
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convergence
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0.9999999
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0.8685904
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0.8685904
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0.8590263
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0.8372201
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