A mathematical programming approach for different scenarios of bilateral bartering

• Stefano Nasini ^[1] ; Jordi Castro ^[1] ; Pau Fonseca ^[1]
  1. [1] Universitat Politècnica de Catalunya

     Universitat Politècnica de Catalunya

     Barcelona, España

     
• Localización: Sort: Statistics and Operations Research Transactions, ISSN 1696-2281, Vol. 39, Nº. 1, 2015, págs. 85-108
• Idioma: inglés
• Enlaces
  • Texto completo (pdf)
• Resumen

  • The analysis of markets with indivisible goods and fixed exogenous prices has played an impor- tant role in economic models, especially in relation to wage rigidity and unemployment. This paper provides a novel mathematical programming based approach to study pure exchange economies where discrete amounts of commodities are exchanged at fixed prices. Barter processes, consist- ing in sequences of elementary reallocations of couple of commodities among couples of agents, are formalized as local searches converging to equilibrium allocations. A direct application of the analysed processes in the context of computational economics is provided, along with a Java implementation of the described approaches.