Markets and the Primal-Dual Paradigm
Published on July 10, 2017
Google Tech Talks
June 1, 2007
ABSTRACT
The notion of a “market” has undergone a paradigm shift with the Internet — totally new and highly successful markets have been defined and launched by companies such as Google, Yahoo!, Amazon, MSN and Ebay. These markets are computationally intensive; indeed, this is just the beginning of a much larger revolution in which algorithmic considerations are bound to have an impact.
In view of these new realities, the study of market equilibria, an important, though essentially non-algorithmic, theory within Mathematical Economics, needs to be revived and rejuvenated with new models, ideas, and an inherently algorithmic approach.
Interestingly enough,…
