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Topic: Non-strict Convex Optimization
Replies: 13   Last Post: May 4, 2012 9:50 AM

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Cory

Posts: 33
Registered: 10/4/11
Re: Non-strict Convex Optimization
Posted: May 3, 2012 7:23 PM
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> f(p,q)=.....?

Need to set supply = demand, so want

q - demand(q,p) = 0. There's no specific form for it--I'll want to change it as a parameter--but for example it be done as follows:

Define I_n is agent n's income (i.e. price times quantity of all fields the agent owns). Then:

demand_c(q,p) = sum(I_n * w_cn / p_c), i.e. each agent spends a certain percent, w_cn, of her income on good c.

In my particular example, each agent demands a distinct set of goods (so the sum is unnecessary).



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