EQUILIBRIUM, AUCTION, AND GENERALIZED GROSS SUBSTITUTES AND COMPLEMENTS

• Shioura Akiyoshi

  Tokyo Institute of Technology

• Yang Zaifu

  University of York

Abstract

We study a market model where there are many different types of indivisible goods for sale. The goods can be substitutable or complementary. There are multiple units of each good. Each agent may consume several goods and has quasi-linear utilities in money. A general condition is introduced to guarantee the existence of a Walrasian equilibrium and generalize gross substitutes, strong substitutes, and gross substitutes and complements conditions. Several characterizations of this new condition are identified. A price adjustment process is proposed which converges globally to a Walrasian equilibrium.

Journal

• Journal of the Operations Research Society of Japan

  Journal of the Operations Research Society of Japan 58 (4), 410-435, 2015

  The Operations Research Society of Japan

Keywords

• Discrete optimization
• auction
• indivisibility
• equilibrium
• substitutes and complements

Details

• CRID: 1390282679085329664
• NII Article ID: 130005108556
• NII Book ID: AA00703935
• DOI: 10.15807/jorsj.58.410
• ISSN: 21888299
• ISSN: 04534514
• NDL BIB ID: 026838648
• Web Site: http://id.ndl.go.jp/bib/026838648
• Web Site: https://ndlsearch.ndl.go.jp/books/R000000004-I026838648
• Web Site: https://www.jstage.jst.go.jp/article/jorsj/58/4/58_410/_pdf
• Text Lang: en
• Data Source:
  • JaLC
  • NDL
  • Crossref
  • CiNii Articles
  • KAKEN
• Abstract License Flag: Disallowed