Premium
A general dynamic spatial price network equilibrium model with gains and losses
Author(s) -
Nagurney Anna,
Aronson Jay
Publication year - 1989
Publication title -
networks
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.977
H-Index - 64
eISSN - 1097-0037
pISSN - 0028-3045
DOI - 10.1002/net.3230190703
Subject(s) - mathematical optimization , multiplier (economics) , general equilibrium theory , computer science , variety (cybernetics) , variational inequality , scheme (mathematics) , construct (python library) , work (physics) , gauss , mathematical economics , economics , mathematics , microeconomics , mechanical engineering , mathematical analysis , physics , quantum mechanics , artificial intelligence , programming language , macroeconomics , engineering
This paper presents a general dynamic spatial price network equilibrium model with gains and losses, which contains as special cases both dynamic and static models studied earlier. This framework through the use of multipliers has the capability of handling directly agricultural markets for perishable commodities and financial markets. Alternative variational inequality formulations are given and then exploited (akin to the work for dynamic problems without gains and losses) to construct a Gauss–Seidel‐type decomposition scheme. Computational experience for this scheme and for an equilibration multiplier method is given for a variety of large‐scale problems.