Masterclass in Equilibrium Modeling
The modelling of equilibrium is crucial for the understanding of many real-world phenomena, e.g. functioning of energy markets and congestion in traffic networks. As a result, equilibrium problems arise in numerous areas of engineering and economics. This course will introduce the state-of-the-art concepts of equilibrium problems, including applications in nonlinear programming and game theory and a number of applications in energy and transportation.
The curriculum covers both one-level equilibrium problems expressed as mixed complementarity problems (MCP’s) and variational inequalities (VI’s), and two-level equilibrium problems, expressed as mathematical programs with equilibrium constraints (MPECs).