@inproceedings{8aa2596c20dd4791ae2ffab3fca79a6f,

title = "Dynamics of distributed updating in fisher markets",

abstract = "A major goal in Algorithmic Game Theory is to justify equilibrium concepts from an algorithmic and complexity perspective. One appealing approach is to identify natural distributed algorithms that converge quickly to an equilibrium. This paper established new convergence results for two generalizations of proportional response in Fisher markets with buyers having CES utility functions. The starting points are respectively a new convex and a new convex-concave formulation of such markets. The two generalizations correspond to suitable mirror descent algorithms applied to these formulations. Several of our new results are a consequence of new notions of strong Bregman convexity and of strong Bregman convex-concave functions, and associated linear rates of convergence, which may be of independent interest. Among other results, we analyze a damped generalized proportional response and show a linear rate of convergence in a Fisher market with buyers whose utility functions cover the full spectrum of CES utilities aside the extremes of linear and Leontief utilities; when these utilities are included, we obtain an empirical O(1/T) rate of convergence.",

keywords = "Bregman divergence, Fisher market, Mirror descent, Proportional response",

author = "Cheung, {Yun Kuen} and Richard Cole and Yixin Tao",

note = "Funding Information: The work of Richard Cole and Yixin Tao was supported in part by NSF grant CCF-1527568.; 19th ACM Conference on Economics and Computation, EC 2018 ; Conference date: 18-06-2018 Through 22-06-2018",

year = "2018",

month = jun,

day = "11",

doi = "10.1145/3219166.3219189",

language = "English (US)",

series = "ACM EC 2018 - Proceedings of the 2018 ACM Conference on Economics and Computation",

publisher = "Association for Computing Machinery, Inc",

pages = "351--368",

booktitle = "ACM EC 2018 - Proceedings of the 2018 ACM Conference on Economics and Computation",

}