The Econometric Society An International Society for the Advancement of Economic Theory in its Relation to Statistics and Mathematics
Home Contacts
Econometrica

New Journals

Econometrica
Editorial Board
Journal News

Monograph Series

March 1980 - Volume 48 Issue 2 Page 387 - 400


p.387


Commodity Exchanges as Gradient Processes

Claude D'Aspremont
Henry Tulkens

Abstract

The purpose here is to make explicit the sense in which two dynamic processes, due to Malinvaud and others (whose solutions determine an efficient allocation for a given economy), are related to the gradient projection method known in the nonlinear optimization literature. The connections we establish derive from simple observations on first order characterizations of efficient allocations; they also lead to the formulation of another process, that applies to a classical welfare maximization problem; finally they provide a common basis for an a priori justification of each of the three processes involved, which supplements the intrinsic properties that they can be shown to have.

Full content Login                                    

Note: to view the fulltext of the article, please login first and then click the "full content" button. If you are based at a subscribing Institution or Library or if you have a separate access to JSTOR/Wiley Online Library please click on the "Institutional access" button.
Prev | All Articles | Next
Go to top
Membership



Email me my password
Join/Renew
Change your address
Register for password
Require login:
Amend your profile
E-mail Alerting
The Society
About the Society
Society News
Society Reports
Officers
Fellows
Members
Regions
Meetings
Future Meetings
Past Meetings
Meeting Announcements
Google
web this site
   
Wiley-Blackwell
Site created and maintained by Wiley-Blackwell.
Comments? Contact customsiteshelp@wiley.com
To view our Privacy Policy, please click here.