The Manne-Chao-Wilson algorithm for computing competitive equilibria: A modified version and its implementation |
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| Authors: | Jacqueline Boucher Yves Smeers |
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| Affiliation: | (1) Center for Operations Research, Université Catholique de Louvain, Louvain-la-Neuve, Belgium |
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| Abstract: | We present a modification of the Manne-Chao-Wilson algorithm for computing competitive equilibria and discuss some of its convergence properties. Numerical experiments involving models with up to 100 price responsive agents are provided.This research has been partially supported by the Belgian Department for Science Policy. We are indebted to Alan Manne for helpful comments; all errors and shortcomings are ours. |
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| Keywords: | Generalized Programming Competitive Equilibria Economic Modelling |
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