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
We show that a competitive equilibrium exists in such economies, provided that all the objects can be partitioned into two groups, and from the viewpoint of each agent, objects in the same group are substitutes and objects across the two groups are complements. This condition generalizes the ...
Gross substitutes and complements: A simple generalization. Economics Letters, 123(2):135-138, 2014.Teytelboym, A. (2014). Gross substitutes and complements: A simple generalization. Economics Letters 123 (2), 135-138.A. Teytelboym, Gross substitutes and complements: A simple generalization, ...
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 ...