Analysis of equilibrium prices and quantities within network-structured markets applying the Lagrange function method

E. Aiyoshi; A. Maki; M. Nishida

Analysis of equilibrium prices and quantities within network-structured markets applying the Lagrange function method

E. Aiyoshi, A. Maki, M. Nishida

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

In the modern market economic system, there are many brokers between primary producers and final producers or consumers. For example, many farmers produce vegetables and supply them to consumers. Between the farmers and consumers there are many brokers called retailers. The involved transactions are modeled by network-structured markets. Equilibrium market prices are obtained as the optimal Lagrange multipliers. The present paper analyzes changes in equilibrium prices and quantities within network-structured markets using the Lagrange function method. Then, different network structures and different specification for the sales and cost functions within the network-structured markets are analyzed.

Original language	English
Title of host publication	MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future
Subtitle of host publication	Understanding and Living with Uncertainty
Pages	1345-1351
Number of pages	7
Publication status	Published - 2011
Externally published	Yes
Event	19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty, MODSIM2011 - Perth, WA, Australia Duration: 2011 Dec 12 → 2011 Dec 16

Publication series

Name	MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty

Other

Other	19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty, MODSIM2011
Country/Territory	Australia
City	Perth, WA
Period	11/12/12 → 11/12/16

Keywords

Duality theorem for optimization
Lagrange function method
Lagrange multipliers
Network-structured market

ASJC Scopus subject areas

Modelling and Simulation

Cite this

Aiyoshi, E., Maki, A., & Nishida, M. (2011). Analysis of equilibrium prices and quantities within network-structured markets applying the Lagrange function method. In MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty (pp. 1345-1351). (MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty).

Analysis of equilibrium prices and quantities within network-structured markets applying the Lagrange function method. / Aiyoshi, E.; Maki, A.; Nishida, M.
MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty. 2011. p. 1345-1351 (MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Aiyoshi, E, Maki, A & Nishida, M 2011, Analysis of equilibrium prices and quantities within network-structured markets applying the Lagrange function method. in MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty. MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty, pp. 1345-1351, 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty, MODSIM2011, Perth, WA, Australia, 11/12/12.

Aiyoshi E, Maki A, Nishida M. Analysis of equilibrium prices and quantities within network-structured markets applying the Lagrange function method. In MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty. 2011. p. 1345-1351. (MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty).

Aiyoshi, E. ; Maki, A. ; Nishida, M. / Analysis of equilibrium prices and quantities within network-structured markets applying the Lagrange function method. MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty. 2011. pp. 1345-1351 (MODSIM 2011 - 19th International Congress on Modelling and Simulation - Sustaining Our Future: Understanding and Living with Uncertainty).

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Analysis of equilibrium prices and quantities within network-structured markets applying the Lagrange function method

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Keywords

ASJC Scopus subject areas

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