Introduction and Results Overview
Walrasian equilibrium is one of the basic notions in economic theory. Items are priced in such a way that the market clears i.e. the supply for each item equals the demand for it (or there may be items with excess supply priced at zero.) When there is a Walrasian equilibrium, it captures nicely the “right” pricing of items. Unfortunately, Walrasian equilibria are guarantee to exists only for limited classes of agents’ valuations, namely gross-substitute valuations.
This research was supported in part by grants from the the Science Foundation (ISF), by grants from United States-Israel Binational Science Foundation (BSF), by a grant from the Israeli Ministry of Science (MoS), by The Israeli Centers of Research Excellence (I-CORE) program, (Center No. 4/11) and by the Google Inter-university center for Electronic Markets and Auctions.
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Hassidim, A., Kaplan, H., Mansour, Y., Nisan, N. (2012). The AND-OR Game: Equilibrium Characterization. In: Goldberg, P.W. (eds) Internet and Network Economics. WINE 2012. Lecture Notes in Computer Science, vol 7695. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-35311-6_49
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