A fixed point algorithm with economic applications
type: Item
instance of: scholarly article
title: A fixed point algorithm with economic applications
zbMATH Open document ID: 0663.90011
DOI: 10.1016/0165-1889(85)90001-6
author: Arvind Khilnani
author: Edison Tse
publication date: 1985-01-01T00:00:00Z
review text: A new fixed point algorithm applicable to large scale economic problems is developed. Motivated by successive approximation the algorithm iterates on a convex combination of the traditional price-to-price map and the identity map. The actual combination used is determined from the convergence error of the previous iteration. The specified convex combination is guaranteed to be a contraction if the original map is Lipschitz-continuous and antitonal. These sufficient conditions are shown to be weaker than the contraction requirement. A simple supply-demand example is presented to show the advantages to this algorithm over successive approximation.
Mathematics Subject Classification ID: 91B50
Mathematics Subject Classification ID: 65H10
Mathematics Subject Classification ID: 90C90
zbMATH DE Number: 4085370
zbMATH Keywords: computation of economic equilibria
zbMATH Keywords: fixed point algorithm
zbMATH Keywords: large scale economic problems
zbMATH Keywords: successive approximation
zbMATH Keywords: convergence error
MaRDI profile type: Publication
full work available at URL: 0165-1889(85)90001-6
OpenAlex ID: W1999696178
cites work: Conjugate gradient versus contraction mapping
cites work: Q4070950
cites work: Q5614773
cites work: FUNDAMENTAL MARXIAN THEOREM IN CASE OF MULTIPLE ACTIVITIES
cites work: Q4070959
published in: Journal of Economic Dynamics and Control
description: scientific article; zbMATH DE number 4085370