Demand-flow of agents with gross-substitute valuations

Erel Segal-Halevi; Avinatan Hassidim; Yonatan Aumann

doi:https://doi.org/10.1016/j.orl.2016.09.012

Demand-flow of agents with gross-substitute valuations

Erel Segal-Halevi, Avinatan Hassidim, Yonatan Aumann

CS@BIU

Bar-Ilan University

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

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

Keywords

Demand
Gross substitutes
Indivisible items
Utility functions

All Science Journal Classification (ASJC) codes

Software
Management Science and Operations Research
Industrial and Manufacturing Engineering
Applied Mathematics

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https://doi.org/10.1016/j.orl.2016.09.012

Cite this

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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.",

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

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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 - https://doi.org/10.1016/j.orl.2016.09.012

DO - https://doi.org/10.1016/j.orl.2016.09.012

M3 - مقالة

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

All Science Journal Classification (ASJC) codes

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