In economics, gross substitutes (GS) is a class of utility functions on indivisible goods. An agent is said to have a GS valuation if, whenever the prices...
13 KB (2,334 words) - 13:48, 9 June 2024
includes both substitute goods and independent goods, and only rules out complementary goods. See Gross substitutes (indivisible items). Polterovich,...
1 KB (177 words) - 14:37, 23 September 2016
with indivisible goods, discrete items that can be traded only as a whole. For example, in combinatorial auctions there is a finite set of items, and...
12 KB (1,808 words) - 15:21, 5 April 2021
Competitive equilibrium (section Indivisible items)
auction. B. Substitutes: A car and a horse are sold in an auction. Alice only cares about transportation, so for her these are perfect substitutes: she gets...
22 KB (3,841 words) - 14:48, 24 June 2024
Welfare maximization (redirect from Utilitarian item allocation)
of items, and the goal is to determine what bid or bids should win, such that the sum of the winning bids is maximum. There is a set M of m items, and...
21 KB (2,837 words) - 21:53, 4 May 2024
RM too. The special case in which all items are identical and each agent's utility is simply the number of items he receives is known as apportionment...
15 KB (2,198 words) - 13:31, 21 September 2023
several items are sold, one after the other, to the same group of potential buyers. In a sequential first-price auction (SAFP), each individual item is sold...
15 KB (2,315 words) - 20:15, 16 April 2024
measure such growth as the percent rate of increase in the real and nominal gross domestic product (GDP). Growth is usually calculated in real terms – i.e...
130 KB (15,335 words) - 23:16, 2 September 2024
remaining West Bank. Consistent with its policy of Jerusalem as a united and indivisible capital of Israel, Israel does not publish exact figures of the number...
107 KB (10,944 words) - 09:40, 14 September 2024
because of scarcity, and because a scarce resource such as a liver is "indivisible". Emanuel said that McCaughey took words out of context, omitting qualifiers...
63 KB (7,206 words) - 16:20, 5 September 2024