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The Edgeworth Conjecture with Small Coalitions and Approximate Equilibria in Large Economies

Barman, S and Echenique, F (2020) The Edgeworth Conjecture with Small Coalitions and Approximate Equilibria in Large Economies. In: 21st ACM Conference on Economics and Computation, EC 2020, 13-17, July 2020, Hungary, pp. 765-766.

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Official URL: https://dx.doi.org/10.1145/3391403.3399481

Abstract

We revisit the connection between bargaining and equilibrium in exchange economies, and study its algorithmic implications. We consider bargaining outcomes to be allocations that cannot be blocked (i.e., profitably re-traded) by coalitions of small size and show that these allocations must be approximate Walrasian equilibria. Our results imply that deciding whether an allocation is approximately Walrasian can be done in polynomial time, even in economies for which finding an equilibrium is known to be computationally hard.

Item Type: Conference Paper
Publication: EC 2020 - Proceedings of the 21st ACM Conference on Economics and Computation
Publisher: Association for Computing Machinery, Inc
Additional Information: The copyright of this article belongs to Association for Computing Machinery, Inc
Department/Centre: Division of Electrical Sciences > Computer Science & Automation
Date Deposited: 26 Aug 2020 11:51
Last Modified: 26 Aug 2020 11:51
URI: http://eprints.iisc.ac.in/id/eprint/66367

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