Market Communication in Production Economies

We study the information content of equilibrium prices using the market communication model of Deng, Papadimitriou, and Safra [4]. We show that, in the worst case, communicating an exact equilibrium in a production economy requires a number of bits that is a quadratic polynomial in the number of goods, the number of agents, the number of firms, and the number of bits used to represent an endowment.

• Type: Journal
• Year: 2010
• Where: WINE
• Authors: Christopher A. Wilkens
• Keywords: Economy, Equilibrium Prices, Exact Equilibrium, Market Communication Model, WINE 2010