Garg, Jugal, Husić, Edin and Végh, László A. (2023) An auction algorithm for market equilibrium with weak gross substitute demands. ACM Transactions on Economics and Computation, 11 (3-4). 1 - 24. ISSN 2167-8375
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Identification Number: https://doi.org/10.1145/3624558
Abstract
We consider the Arrow–Debreu exchange market model under the assumption that the agents’ demands satisfy the weak gross substitutes (WGS) property. We present a simple auction algorithm that obtains an approximate market equilibrium for WGS demands assuming the availability of a price update oracle. We exhibit specific implementations of such an oracle for WGS demands with bounded price elasticities and for Gale demand systems.
| Item Type: | Article |
|---|---|
| Official URL: | https://dl.acm.org/journal/teac |
| Divisions: | Mathematics |
| Subjects: | Q Science > QA Mathematics |
| Date Deposited: | 22 Jan 2024 12:57 |
| Last Modified: | 26 Sep 2025 16:21 |
| URI: | http://eprintstest.lse.ac.uk/id/eprint/121433 |
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