Demand-flow of agents with gross-substitute valuations

Erel Segal-Halevi; Avinatan Hassidim; Yonatan Aumann

doi:10.1016/j.orl.2016.09.012

Demand-flow of agents with gross-substitute valuations

Erel Segal-Halevi, Avinatan Hassidim, Yonatan Aumann

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

We consider the gross-substitute (GS) condition introduced by Kelso and Crawford (1982). GS is a condition on the demand-flow in a specific scenario: some items become more expensive while other items retain their price. We prove that GS is equivalent to a much stronger condition, describing the demand-flow in the general scenario in which all prices may change: the demand of GS agents always flows (weakly) downwards, i.e., from items with higher price-increase to items with lower price-increase.

Original language	English
Pages (from-to)	757-760
Number of pages	4
Journal	Operations Research Letters
Volume	44
Issue number	6
DOIs	https://doi.org/10.1016/j.orl.2016.09.012
State	Published - 1 Nov 2016
Externally published	Yes

Keywords

Demand
Gross substitutes
Indivisible items
Utility functions

Access to Document

10.1016/j.orl.2016.09.012

Cite this

@article{ab0ca9ead36c4fad8080472c92585bc8,

title = "Demand-flow of agents with gross-substitute valuations",

abstract = "We consider the gross-substitute (GS) condition introduced by Kelso and Crawford (1982). GS is a condition on the demand-flow in a specific scenario: some items become more expensive while other items retain their price. We prove that GS is equivalent to a much stronger condition, describing the demand-flow in the general scenario in which all prices may change: the demand of GS agents always flows (weakly) downwards, i.e., from items with higher price-increase to items with lower price-increase.",

keywords = "Demand, Gross substitutes, Indivisible items, Utility functions",

author = "Erel Segal-Halevi and Avinatan Hassidim and Yonatan Aumann",

note = "Publisher Copyright: {\textcopyright} 2016 Elsevier B.V.",

year = "2016",

month = nov,

day = "1",

doi = "10.1016/j.orl.2016.09.012",

language = "אנגלית",

volume = "44",

pages = "757--760",

journal = "Operations Research Letters",

issn = "0167-6377",

publisher = "Elsevier",

number = "6",

}

TY - JOUR

T1 - Demand-flow of agents with gross-substitute valuations

AU - Segal-Halevi, Erel

AU - Hassidim, Avinatan

AU - Aumann, Yonatan

PY - 2016/11/1

Y1 - 2016/11/1

N2 - We consider the gross-substitute (GS) condition introduced by Kelso and Crawford (1982). GS is a condition on the demand-flow in a specific scenario: some items become more expensive while other items retain their price. We prove that GS is equivalent to a much stronger condition, describing the demand-flow in the general scenario in which all prices may change: the demand of GS agents always flows (weakly) downwards, i.e., from items with higher price-increase to items with lower price-increase.

AB - We consider the gross-substitute (GS) condition introduced by Kelso and Crawford (1982). GS is a condition on the demand-flow in a specific scenario: some items become more expensive while other items retain their price. We prove that GS is equivalent to a much stronger condition, describing the demand-flow in the general scenario in which all prices may change: the demand of GS agents always flows (weakly) downwards, i.e., from items with higher price-increase to items with lower price-increase.

KW - Demand

KW - Gross substitutes

KW - Indivisible items

KW - Utility functions

UR - http://www.scopus.com/inward/record.url?scp=84992159959&partnerID=8YFLogxK

U2 - 10.1016/j.orl.2016.09.012

DO - 10.1016/j.orl.2016.09.012

M3 - ???researchoutput.researchoutputtypes.contributiontojournal.article???

AN - SCOPUS:84992159959

SN - 0167-6377

VL - 44

SP - 757

EP - 760

JO - Operations Research Letters

JF - Operations Research Letters

IS - 6

ER -

Demand-flow of agents with gross-substitute valuations

Abstract

Keywords

Access to Document

Other files and links

Fingerprint

Cite this