Markets and the Primal-Dual Paradigm

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Published on October 9, 2007 3:16:08 AM ● Video Link: https://www.youtube.com/watch?v=nddQmkORS60

Duration: 1:02:18

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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,...