Abstract
Models of economic equilibrium are a powerful tool of mathematical modeling of various markets. However, according to many publications, there are as yet no universal techniques for finding equilibrium prices that are solutions to such models. A technique of this kind that is a natural implementation of the Walras idea of tatonnements (i.e., groping for equilibrium prices) is proposed, and its convergence is proved.
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Original Russian Text © A.S. Antipin, 2006, published in Zhurnal Vychislitel’noi Matematiki i Matematicheskoi Fiziki, 2006, Vol. 46, No. 10, pp. 1771–1783.
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Antipin, A.S. Extraproximal approach to calculating equilibriums in pure exchange models. Comput. Math. and Math. Phys. 46, 1687–1698 (2006). https://doi.org/10.1134/S096554250610006X
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DOI: https://doi.org/10.1134/S096554250610006X