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

Department of Computer Science

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

Bibliographical note

Publisher Copyright:
© 2016 Elsevier B.V.

Funding

This research was funded in part by the ISF grants 1083/13 and 1224/12 , the Doctoral Fellowships of Excellence Program and the Mordecai and Monique Katz Graduate Fellowship Program at Bar-Ilan University . We are grateful to Assaf Romm and Elizabeth Baldwin and an anonymous referee for their helpful comments.

Funders	Funder number
Mordecai and Monique Katz Graduate Fellowship Program at Bar-Ilan University
Israel Science Foundation	1083/13, 1224/12

Keywords

Demand
Gross substitutes
Indivisible items
Utility functions

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10.1016/j.orl.2016.09.012

Cite this

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Demand-flow of agents with gross-substitute valuations

Abstract

Bibliographical note

Funding

Keywords

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