New Directions in Computational Economics

✍ Scribed by Gerald L. Thompson (auth.), W. W. Cooper, A. B. Whinston (eds.)

• Publisher: Springer Netherlands
• Year: 1994
• Tongue: English
• Leaves: 235
• Series: Advances in Computational Economics 4
• Edition: 1
• Category: Library

✦ Synopsis

New Directions in Computational Economics brings together for the first time a diverse selection of papers, sharing the underlying theme of application of computing technology as a tool for achieving solutions to realistic problems in computational economics and related areas in the environmental, ecological and energy fields.
Part I of the volume addresses experimental and computational issues in auction mechanisms, including a survey of recent results for sealed bid auctions. The second contribution uses neural networks as the basis for estimating bid functions for first price sealed bid auctions. Also presented is the `smart market' computational mechanism which better matches bids and offers for natural gas.
Part II consists of papers that formulate and solve models of economics systems. Amman and Kendrick's paper deals with control models and the computational difficulties that result from nonconvexities. Using goal programming, Nagurney, Thore and Pan formulate spatial resource allocation models to analyze various policy issues. Thompson and Thrall next present a rigorous mathematical analysis of the relationship between efficiency and profitability. The problem of matching uncertain streams of assets and liabilities is solved using stochastic optimization techniques in the following paper in this section.
Finally, Part III applies economic concepts to issues in computer science in addition to using computational techniques to solve economic models.

✦ Table of Contents

Front Matter....Pages i-xiii
Front Matter....Pages 1-1
Sealed Bid Auctions and Economic Market Games....Pages 3-17
The Use of Artificial Neural Networks for Estimation of Decision Surfaces in First Price Sealed Bid Auctions....Pages 19-40
Designing a Real Time Computer Assisted Auction for Natural Gas Networks....Pages 41-54
Front Matter....Pages 55-55
Nonconvexities in Stochastic Control Models: An Analysis....Pages 57-94
The Modeling and Computation of Generalized Goal Programming Problems....Pages 95-120
Polyhedral Assurance Regions with Linked Constraints....Pages 121-133
Integrating Assets and Liabilities for Large Financial Organizations....Pages 135-150
Front Matter....Pages 151-151
Economic Decision Theory as a Paradigm for the Construction and Evaluation of Algorithms and Information Systems....Pages 153-173
A General Economic Equilibrium Model of Distributed Computing....Pages 175-189
International Trade, Capital Flows and Sectoral Analysis: Formulation and Solution of Intertemporal Equilibrium Models....Pages 191-205
Stochastic Control of Nonlinear Economic Models....Pages 207-226
Back Matter....Pages 227-231

✦ Subjects

Econometrics; Economic Theory; Regional/Spatial Science