Exchange economics as an alternative to distributed optimization
(2016) 55th IEEE Conference on Decision and Control 2016- Abstract
- Quadratic optimization subject to linear constraints is a fundamental building-block in many other branches of applied mathematics. However, for large-scale systems, where a common global objective function is neither naturally defined nor easily computable, it is natural to view economic equilibrium theory as an alternative approach to design and analysis. Stability and robustness of equilibria can then be studied using the concept of monotonicity. In this paper we prove fundamental monotonicity properties for price dynamics with quadratic utilities. In particular, the main theorem gives quantitative bounds on the size of the monotone cone. Simple examples illustrate the ideas.
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/dc61161e-f1d1-49db-b4b5-40a6a5ac9ea7
- author
- Rantzer, Anders LU
- organization
- publishing date
- 2016
- type
- Chapter in Book/Report/Conference proceeding
- publication status
- published
- subject
- host publication
- 2016 IEEE 55th Conference on Decision and Control (CDC)
- conference name
- 55th IEEE Conference on Decision and Control 2016
- conference location
- Las Vegas, NV, United States
- conference dates
- 2016-09-12 - 2016-09-14
- external identifiers
-
- scopus:85010791810
- ISBN
- 978-1-5090-1837-6
- DOI
- 10.1109/CDC.2016.7799078
- language
- English
- LU publication?
- yes
- id
- dc61161e-f1d1-49db-b4b5-40a6a5ac9ea7
- date added to LUP
- 2017-02-23 17:17:25
- date last changed
- 2024-01-13 15:33:02
@inproceedings{dc61161e-f1d1-49db-b4b5-40a6a5ac9ea7, abstract = {{Quadratic optimization subject to linear constraints is a fundamental building-block in many other branches of applied mathematics. However, for large-scale systems, where a common global objective function is neither naturally defined nor easily computable, it is natural to view economic equilibrium theory as an alternative approach to design and analysis. Stability and robustness of equilibria can then be studied using the concept of monotonicity. In this paper we prove fundamental monotonicity properties for price dynamics with quadratic utilities. In particular, the main theorem gives quantitative bounds on the size of the monotone cone. Simple examples illustrate the ideas.}}, author = {{Rantzer, Anders}}, booktitle = {{2016 IEEE 55th Conference on Decision and Control (CDC)}}, isbn = {{978-1-5090-1837-6}}, language = {{eng}}, title = {{Exchange economics as an alternative to distributed optimization}}, url = {{https://lup.lub.lu.se/search/files/21812290/2016cdcRantzer.pdf}}, doi = {{10.1109/CDC.2016.7799078}}, year = {{2016}}, }