Demand curve

In a demand schedule, a demand curve is a graph depicting the relationship between the price of a certain commodity (the y-axis) and the quantity of that commodity that is demanded at that price (the x-axis). Demand curves can be used either for the price-quantity relationship for an individual consumer (an individual demand curve), or for all consumers in a particular market (a market demand curve). It is generally assumed that demand curves slope down, as shown in the adjacent image. This is because of the law of demand: for most goods, the quantity demanded falls if the price rises. Certain unusual situations do not follow this law. These include Veblen goods, Giffen goods, and speculative bubbles where buyers are attracted to a commodity if its price rises. Demand curves are used to estimate behaviour in competitive markets and are often combined with supply curves to find the equilibrium price (the price at which sellers together are willing to sell the same amount as buyers

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Publications associées (1)

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Distributed computation of generalized Nash equilibria in quadratic aggregative games with affine coupling constraints

John Lygeros

We analyse deterministic aggregative games, with large but finite number of players, that are subject to both local and coupling constraints. Firstly, we derive sufficient conditions for the existence of a generalized Nash equilibrium, by using the theory of variational inequalities together with the specific structure of the objective functions and constraints. Secondly, we present a coordination scheme, belonging to the class of asymmetric projection algorithms, and we prove that it converges R-linearly to a generalized Nash equilibrium. To this end, we extend the available results on asymmetric projection algorithms to our setting. Finally, we show that the proposed scheme can be implemented in a decentralized fashion and it is suitable for the analysis of large populations. Our theoretical results are applied to the problem of charging a fleet of plug-in electric vehicles, in the presence of capacity constraints coupling the individual demands.

IEEE2016

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Demand

In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called