Newton's Method Without Derivatives; Approaching Equilibrium in Parallell

Sjur Flåm

Norway; Department of Economics, University of Bergen from Department of Economics, University of Bergen

Abstract: Motivated by economic examples the authors study equation solving undertaken in parallel by several non-communicating agents, each dealing with his own block of variables. The process is akin to Newton's method in using derivative information. It does, however, proceed without matrix inversion and dispenses with the need to exchange information between various blocks. Illustrations include single-agent optimization and noncooperative games.

Keywords: GENERAL EQUILIBRIUM; MATHEMATICAL ANALYSIS (search for similar items in EconPapers)
JEL-codes: C60 D50 (search for similar items in EconPapers)
Pages: 13 pages
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:fth:bereco:1199

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