Complexity of markets

Computation in economic mechanisms



What is the computational power of a market? What is the computational complexity of the work that markets do? Socialist calculation debate. Computational complexity and command-and-control-economics.

Classic: Cosma Shalizi: In Soviet Union, Optimization Problem Solves You. See also his notebook on Planned Economies.

References

Arora, Sanjeev, Boaz Barak, Markus Brunnermeier, and Rong Ge. 2011. β€œComputational Complexity and Information Asymmetry in Financial Products.” Communications of the ACM 54 (5): 101–7.
Arthur, W Brian. 1995. β€œComplexity in Economic and Financial Markets.” Complexity 1 (1): 20–25.
Aziz, Haris, PΓ©ter BirΓ³, Ronald de Haan, and Baharak Rastegari. 2019. β€œPareto Optimal Allocation Under Uncertain Preferences: Uncertainty Models, Algorithms, and Complexity.” Artificial Intelligence 276 (November): 57–78.
Aziz, Haris, Ioannis Caragiannis, Ayumi Igarashi, and Toby Walsh. 2021. β€œFair Allocation of Combinations of Indivisible Goods and Chores.” arXiv.
Aziz, Haris, and Bart de Keijzer. 2011. β€œComplexity of Coalition Structure Generation.” arXiv.
Bossaerts, Peter, Elizabeth Bowman, Felix Fattinger, Harvey Huang, Carsten Murawski, Anirudh Suthakar, Shireen Tang, and Nitin Yadav. 2020. β€œComputational Complexity and Asset Pricing.” SSRN Scholarly Paper ID 3475433. Rochester, NY: Social Science Research Network.
Bowles, Samuel. 2004. Microeconomics: Behavior, Institutions, and Evolution. Princeton University Press.
Bowles, Samuel, Alan Kirman, and Rajiv Sethi. 2017. β€œRetrospectives: Friedrich Hayek and the Market Algorithm.” Journal of Economic Perspectives 31 (3): 215–30.
Daskalakis, C., P. Goldberg, and C. Papadimitriou. 2009. β€œThe Complexity of Computing a Nash Equilibrium.” SIAM Journal on Computing 39 (January): 195–259.
Daskalakis, Constantinos, Alan Deckelbaum, and Christos Tzamos. 2012a. β€œOptimal Pricing Is Hard.” In Internet and Network Economics, edited by Paul W. Goldberg, 7695:298–308. Berlin, Heidelberg: Springer Berlin Heidelberg.
β€”β€”β€”. 2012b. β€œThe Complexity of Optimal Mechanism Design.” arXiv:1211.1703 [Cs], November.
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Levine, Matt. 2016. β€œAre Index Funds Communist?” Bloomberg.com, August 24, 2016.
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Mcleod, Doug, Garry Emmerson, Robert Kohn, and Geoff Kingston (universit. 2008. β€œFinding the Invisible Hand: An Objective Model of Financial Markets.”
Mises, Ludwig von. 2016. Economic Calculation In the Socialist Commonwealth. Lulu Press, Inc.
Nisan, Noam. 2007. Algorithmic Game Theory. Cambridge ; New York: Cambridge University Press.
β€”β€”β€”. n.d. β€œAlgorithmic Mechanism Design,” 44.
Ohsawa, Shohei. 2021. β€œUnbiased Self-Play.” arXiv:2106.03007 [Cs, Econ, Stat], June.
Roughgarden, Tim, and Inbal Talgam-Cohen. 2019. β€œApproximately Optimal Mechanism Design.” Annual Review of Economics 11 (1): 355–81.
Shafer, Glenn, and Vladimir Vovk. 2001. β€œIntroduction: Probability and Finance as a Game.” In Probability and Finance: It’s Only a Game! Wiley-Interscience.
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Spufford, Francis. 2012. Red Plenty. 1st edition. London: Faber Non Fiction.
Ye, Yinyu. 2008. β€œA Path to the Arrow–Debreu Competitive Market Equilibrium.” Mathematical Programming 111 (1-2): 315–48.

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