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Courses - Spring 2023
Engineering, Mechanical Department Site
Equilibrium Modeling in Engineering
Credits: 3
Grad Meth: Reg, Aud, S-F
Credit only granted for: ENCE722 or ENME722.
Provide motivation and introduction to equilibrium models involving economics and engineering. We will concentrate on models involving markets (Nash-Cournot, etc.), those wherein the activities are spatially diverse, those involving energy activities or traffic flow, as well as selected other examples in mechanical engineering. Areas that will be covered include:Review of relevant optimization theory, presentation of the mixed complementarity problem (MCP) and variational inequality problem (VIP) formats to solve equilibrium problems as well as introduction to existence and uniqueness results, review of relevant game theory notions, presentation of specific models for engineering-economic applications, presentations for algorithms to solve these equilibrium problems.