Double auction mechanisms on Markovian networks

作者：

Highlights：

• A double auction mechanism has been studied for a class of exchange economies.

• Buyers and sellers each form a time non-homogeneous Markovian chain.

• Convergence results with and without noises are established.

• A numerical example is given to demonstrate the formation of bubbles and crashes.

摘要

•A double auction mechanism has been studied for a class of exchange economies.•Buyers and sellers each form a time non-homogeneous Markovian chain.•Convergence results with and without noises are established.•A numerical example is given to demonstrate the formation of bubbles and crashes.

论文关键词：Double auction mechanism,Markovian chain,Incremental subgradient method,Bubbles and crashes,Excess volatility

论文评审过程：Available online 1 June 2014.

论文官网地址：https://doi.org/10.1016/j.eswa.2014.05.027