Abstract. In this paper, we show that the proportional response dynamics, a utility based distributed dynamics, converges to the market equilibrium in the Fisher market with consta...
Many distributed real-time systems face the challenge of dynamically maximizing system utility and meeting stringent resource constraints in response to fluctuations in system wo...
One might imagine that AI systems with harmless goals will be harmless. This paper instead shows that intelligent systems will need to be carefully designed to prevent them from be...
We consider markets in the classical Arrow-Debreu model. There are n agents and m goods. Each buyer has a concave utility function (of the bundle of goods he/she buys) and an init...
The choice of admissible trading strategies in mathematical modelling of financial markets is a delicate issue, going back to Harrison and Kreps [HK79]. In the context of optimal...