In this paper, a system of pure exchange economy is studied, in view of expenditure function and its analysis properties. We propose an economics equilibrium model with expenditure character and the existence of expen...In this paper, a system of pure exchange economy is studied, in view of expenditure function and its analysis properties. We propose an economics equilibrium model with expenditure character and the existence of expenditure equilibriu.展开更多
Grid computing has emerged as an effective mechanism for allocating globally available surplus computational capacity to applications whose requirements exceed local capacity. It is often viewed as a commodity exchang...Grid computing has emerged as an effective mechanism for allocating globally available surplus computational capacity to applications whose requirements exceed local capacity. It is often viewed as a commodity exchange with additional grid computing specific constraints that may arise due to requirements on multiple resources (e.g., disk space) in addition to computing power. These constraints are related to complementarity and substitution effects among resources, and significantly alter the assumptions typically used for demonstrating the existence of market equilibrium. However, prior work in grid computing has simply assumed that market equilibria exist. Our work fills this gap by studying the existence of market equilibrium under the grid computing environment. To do so, we first establish an economic framework that incorporates the grid computing specific constraints into a commodity market. We next derive some intuitive necessary conditions based on the computing requirements of individual agents. We finally establish the existence of regular markets as a competitive equilibrium, given that these necessary conditions are met and that the agents’ utility functions satisfy some minimal requirements. In the process, we also show existence of competitive equilibrium for the special case of grid computing as a pure exchange economy.展开更多
This paper examines the existence of general equilibrium in a discrete time economy with the infinite horizon incomplete markets.There is a single good at each node in the event tree.The existence of general equilibri...This paper examines the existence of general equilibrium in a discrete time economy with the infinite horizon incomplete markets.There is a single good at each node in the event tree.The existence of general equilibrium for the infinite horizon economy is proved by taking limit of equilibria in truncated economies in which trade stops at a sequence of dates.展开更多
文摘In this paper, a system of pure exchange economy is studied, in view of expenditure function and its analysis properties. We propose an economics equilibrium model with expenditure character and the existence of expenditure equilibriu.
文摘Grid computing has emerged as an effective mechanism for allocating globally available surplus computational capacity to applications whose requirements exceed local capacity. It is often viewed as a commodity exchange with additional grid computing specific constraints that may arise due to requirements on multiple resources (e.g., disk space) in addition to computing power. These constraints are related to complementarity and substitution effects among resources, and significantly alter the assumptions typically used for demonstrating the existence of market equilibrium. However, prior work in grid computing has simply assumed that market equilibria exist. Our work fills this gap by studying the existence of market equilibrium under the grid computing environment. To do so, we first establish an economic framework that incorporates the grid computing specific constraints into a commodity market. We next derive some intuitive necessary conditions based on the computing requirements of individual agents. We finally establish the existence of regular markets as a competitive equilibrium, given that these necessary conditions are met and that the agents’ utility functions satisfy some minimal requirements. In the process, we also show existence of competitive equilibrium for the special case of grid computing as a pure exchange economy.
基金This research was supported by a project of Financial MathematicsFinancial Engineering and Finan-cial Managementwhich is o
文摘This paper examines the existence of general equilibrium in a discrete time economy with the infinite horizon incomplete markets.There is a single good at each node in the event tree.The existence of general equilibrium for the infinite horizon economy is proved by taking limit of equilibria in truncated economies in which trade stops at a sequence of dates.
