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Independence systems in gross-substitute valuations

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  • Huang, Chao

Abstract

Objects may exhibit substitutabilities, complementarities as well as independencies for agents. In this paper we show that under the Kelso–Crawfordgross substitutes condition, the sets of mutual independent objects form a matroid. Hence the structure of independent objects under the gross substitutes condition has much in common with the independence system of a graph or a vector space.

Suggested Citation

  • Huang, Chao, 2018. "Independence systems in gross-substitute valuations," Economics Letters, Elsevier, vol. 173(C), pages 135-137.
    • Handle: RePEc:eee:ecolet:v:173:y:2018:i:c:p:135-137
    DOI: 10.1016/j.econlet.2018.10.001
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    References listed on IDEAS

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    More about this item

    Keywords

    Gross substitutes; Matching; Combinatorial auctions; Matroids; M♮-concave function;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory

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