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About: Fisher market     Goto   Sponge   NotDistinct   Permalink

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Fisher market is an economic model attributed to Irving Fisher. It has the following ingredients: * A set of divisible products with pre-specified supplies (usually normalized such that the supply of each good is 1). * A set of buyers. * For each buyer , there is a pre-specified monetary budget . Each product has a price ; the prices are determined by methods described below. The price of a bundle of products is the sum of the prices of the products in the bundle. A bundle is represented by a vector , where is the quantity of product . So the price of a bundle is . .