extended-abstract

Δ-Substitute Preferences and Equilibria with Indivisibilities

Authors:

Thành Nguyen,

Rakesh VohraAuthors Info & Claims

EC '21: Proceedings of the 22nd ACM Conference on Economics and Computation

Pages 735 - 736

https://doi.org/10.1145/3465456.3467575

Published: 18 July 2021 Publication History

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Abstract

Gross substitutes for quasi-linear preferences is characterized by the single improvement property, which says an agent can improve upon a sub-optimal bundle by adding or dropping a single item, or exchanging one item for another. We extend this notion in two ways: by allowing for non-quasi-linear preferences and the exchange of up to Delta items. Our results connect the improvement property with the geometry of the choice correspondence. We derive prices at which the excess demand for each good is at most Delta-1 and provide applications to the design of pseudo-markets for allocating indivisible resources.

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Elizabeth Baldwin and Paul Klemperer. 2019. Understanding preferences:"demand types", and the existence of equilibrium with indivisibilities. Econometrica 87, 3 (2019), 867--932.

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Eric Budish. 2011. The Combinatorial Assignment Problem: Approximate Competitive Equilibrium from Equal Incomes. Journal of Political Economy 119, 6 (2011), 1061 -- 1103.

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JWS Cassels. 1975. Measures of the non-convexity of sets and the Shapley--Folkman--Starr theorem. In Mathematical Proceedings of the Cambridge Philosophical Society, Vol. 78. Cambridge University Press, 433--436.

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Index Terms

Δ-Substitute Preferences and Equilibria with Indivisibilities
1. Theory of computation
  1. Theory and algorithms for application domains
    1. Algorithmic game theory and mechanism design

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Information & Contributors

Information

Published In

EC '21: Proceedings of the 22nd ACM Conference on Economics and Computation

July 2021

950 pages

ISBN:9781450385541

DOI:10.1145/3465456

General Chair:
Péter Biró
Hungarian Academy of Sciences
,
Program Chairs:
Shuchi Chawla
University of Wisconsin-Madison and University of Texas at Austin
,
Federico Echenique
California Institute of Technology

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Association for Computing Machinery

New York, NY, United States

Publication History

Published: 18 July 2021

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Extended-abstract

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EC '21

Sponsor:

SIGecom

EC '21: The 22nd ACM Conference on Economics and Computation

July 18 - 23, 2021

Budapest, Hungary

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Overall Acceptance Rate 664 of 2,389 submissions, 28%

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