Walrasian's Characterization and a Universal Ascending Auction

We introduce a novel characterization of all Walrasian price vectors in terms of forbidden over- and under demanded sets for monotone gross substitute combinatorial auctions. For ascending and descending auctions we suggest a universal framework for finding the minimum or maximum Walrasian price vec...

Full description

Saved in:
Bibliographic Details
Published in:arXiv.org 2016-05
Main Author: Ben-Zwi, Oren
Format: Article
Language:English
Subjects:
Auctions
Combinatorial analysis
Spectrum allocation
Substitutes
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:We introduce a novel characterization of all Walrasian price vectors in terms of forbidden over- and under demanded sets for monotone gross substitute combinatorial auctions. For ascending and descending auctions we suggest a universal framework for finding the minimum or maximum Walrasian price vectors for monotone gross substitute combinatorial auctions. An ascending (descending) auction is guaranteed to find the minimum (maximum) Walrasian if and only if it follows the suggested framework.
ISSN:2331-8422