2013/01/07 by Oren Ben-Zwi, Ben-Zwi, Oren, Ron Lavi +3 · 2 citations
Business, Management and Accounting · Computer Science · Decision Sciences · Economics, Econometrics and Finance · #Auction Theory and Applications #Computer Science and Game Theory (cs.GT) #Consumer Market Behavior and Pricing #FOS: Computer and information sciences #Game Theory and Voting Systems #cs.GT
paper · pdf · doi:10.48550/arxiv.1301.1153
openalex publication_date 2013/01/07 · arxiv created 2013/07/10 · arxiv updated 2013/07/11 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
We present a family of submodular valuation classes that generalizes gross substitute. We show that Walrasian equilibrium always exist for one class in this family, and there is a natural ascending auction which finds it. We prove some new structural properties on gross-substitute auctions which, in turn, show that the known ascending auctions for this class (Gul-Stacchetti and Ausbel) are, in fact, identical. We generalize these two auctions, and provide a simple proof that they terminate in a Walrasian equilibrium.