Market Dynamics of Best-Response with Lookahead
summary
Shows that price updates where each seller uses level-K lookahead best responses in Fisher markets with elastic bounded demand form monotone, strictly subhomogeneous, bounded maps that are strict contractions under the Thompson metric. Consequence: any sequence of such synchronous or asynchronous (even inconsistent) updates converges exponentially fast to the unique market‑clearing prices; worst case is plain best‑response, and the argument uses contraction analysis rather than equilibrium precomputation.
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