Gross substitutes and complementsAuctionsWe generalize the gross substitutes and complements framework (Sun and Yang, 2006).We show that competitive equilibrium with indivisible goods exists under weaker condit
Using this result, we show that LIC and IC are equivalent on large class of non-convex type-spaces which include the gross substitutes type-space and the generalized gross substitutes and complements type-space. Finally, we provide a geometric property consisting of three conditions for the ...
abrush off and no brush off 掠过,并且没有掠过[translate] abeginning 起点[translate] aIs a cake of complements and substitutes, demand not only depends on the price of goods itself, are considerably affected by other commodity prices, so, when the cake complementary product prices, changes in ...
competitive equilibriumsubstitutescomplementsauctionsThis paper extends the gross substitutes and complements (GSC) framework of Sun and Yang (2006) to a more general substitutes and complements structure. We showSocial Science Electronic Publishing
It is demonstrated that if all of the private goods are weak gross complements to each other, then the Laffer effect does not exist, in other words, higher tax rates can always achieve more tax revenue. In contrast, if all of the private goods are strict gross substitutes, then the ...
Gross substitutes and complements: a simple generalisation. In prepa- ration, 2012.Sun, N., and Z. Yang (2006), "Equilibria and Indivisibilities: Gross Substitutes and Complements," Econometrica, 74, 1385-1402.Sun, N. and Z. Yang (2006). Equilibria and indivisibilities: gross ...
Gross substitutes and complementsWe propose a new globally convergent dynamic auction for selling multiple indivisible items. There are two finite and disjoint sets of items. Items in each set can be heterogenous but are substitutes, and items across the two sets are complements. Each bidder may ...