Micro-economics package

asked 2015-11-27 07:26:31 +0200

Erel Segal-Halevi gravatar image

I am looking for a package for solving simple college-level micro-economics problems. For example, I am looking for a software where I can:

  • Define utility functions, e.g. $u_1(x,y) = x^2 y$, $u_2(x,y) = x y^2$;
  • Define initial endowments $(x_1,y_1)$ and $(x_2,y_2)$;
  • Find and plot all the Pareto-efficient allocations;
  • Find and plot all the envy-free allocations;
  • Find a competitive equilibrium.

Is there a SageMath package for this?

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Not that I know of. There is some game-theoretic stuff but not this. I assume there are well-known algorithms for finding such Pareto and envy-free allocations?

kcrisman gravatar imagekcrisman ( 2015-11-27 18:08:16 +0200 )edit

Yes, there are algorithms but there are many fine details (e.g. if the function is smooth there is one algorithm, if it is continuous but not smooth there is another algorithm, etc.)

Erel Segal-Halevi gravatar imageErel Segal-Halevi ( 2015-11-29 16:52:47 +0200 )edit

Do you know some (free-software) packages that do that ? In case, we could include them within Sagemath.

tmonteil gravatar imagetmonteil ( 2016-08-19 13:17:50 +0200 )edit

a bit late to the party but im working on trying to figure that out myself. check out my recent questions if you're still interested a bit under 5 years later.

EconJohn gravatar imageEconJohn ( 2020-07-15 23:10:38 +0200 )edit