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Computing All Solutions to Polynomial Equations in Economics
| Content Provider | Semantic Scholar |
|---|---|
| Author | Kubler, Felix Renner, Philipp Schmedders, Karl |
| Copyright Year | 2014 |
| Abstract | Multiplicity of equilibria is a common problem in many economic models. In general, it is impossible to devise methods that always find all equilibria for any type of model. A notable exception are models in which all equilibria are solutions to a system of polynomial equations since there are powerful solution methods for finding all solutions to such polynomial systems. In many economic applications, equilibria can indeed be characterized as solutions to a system of polynomial equations. This handbook article provides a hands-on introduction to two solution methods for finding all solutions to polynomial systems; the first approach relies on Grobner bases, the second approach employs all-solution homotopy methods. Several economic examples show how to compute all equilibria using modern software implementations of these two methods. |
| Starting Page | 599 |
| Ending Page | 652 |
| Page Count | 54 |
| File Format | PDF HTM / HTML |
| DOI | 10.1016/B978-0-444-52980-0.00011-6 |
| Volume Number | 3 |
| Alternate Webpage(s) | http://www.business.uzh.ch/professorships/qba/publications/aktuell/KRS-Handbook.pdf |
| Alternate Webpage(s) | http://www.business.uzh.ch/dam/jcr:ffffffff-d78f-74f8-ffff-fffff447fa5d/KRS-Handbook.pdf |
| Alternate Webpage(s) | https://doi.org/10.1016/B978-0-444-52980-0.00011-6 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
