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Sets in Excess Demand in Ascending Auctions with Unit-Demand Bidders

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  • Andersson, T.D.
  • Andersson, C.
  • Talman, A.J.J.

    (Tilburg University, Center For Economic Research)

Abstract

This paper analyzes the problem of selecting a set of items whose prices are to be updated in the next iteration in so called simple ascending auctions with unit-demand bidders. A family of sets called "sets in excess demand" is introduced, and the main results demonstrate that a simple ascending auction always terminates at the minimum Walrasian equilibrium prices if and only if the selection belongs to this family. The paper also specifies a number of properties of the family of sets in excess demand and relate previously proposed selections to it.
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Suggested Citation

  • Andersson, T.D. & Andersson, C. & Talman, A.J.J., 2010. "Sets in Excess Demand in Ascending Auctions with Unit-Demand Bidders," Discussion Paper 2010-51, Tilburg University, Center for Economic Research.
    • Handle: RePEc:tiu:tiucen:c7482a22-cb73-428b-9cc0-ea6723552db1
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    References listed on IDEAS

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    9. Tommy Andersson & Christer Andersson, 2012. "Properties of the DGS-Auction Algorithm," Computational Economics, Springer;Society for Computational Economics, vol. 39(2), pages 113-133, February.
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    11. de Vries, Sven & Schummer, James & Vohra, Rakesh V., 2007. "On ascending Vickrey auctions for heterogeneous objects," Journal of Economic Theory, Elsevier, vol. 132(1), pages 95-118, January.
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    Cited by:

    1. Andersson, Tommy & Yang, Zaifu & Zhang, Dongmo, 2015. "How to efficiently allocate houses under price controls?," Economics Letters, Elsevier, vol. 130(C), pages 97-99.
    2. Ingebretsen Carlson, Jim, 2015. "An Approximate Auction," Working Papers 2015:19, Lund University, Department of Economics.
    3. Akiyoshi Shioura, 2017. "On the Partnership formation problem," The Journal of Mechanism and Institution Design, Society for the Promotion of Mechanism and Institution Design, University of York, vol. 2(1), pages 105-140, December.
    4. Kazuo Murota & Akiyoshi Shioura & Zaifu Yang, 2014. "Time Bounds for Iterative Auctions: A Unified Approach by Discrete Convex Analysis," Discussion Papers 14/27, Department of Economics, University of York.
    5. , & ,, 2015. "Strategy-proofness and efficiency with non-quasi-linear preferences: a characterization of minimum price Walrasian rule," Theoretical Economics, Econometric Society, vol. 10(2), May.
    6. Tommy Andersson & Christer Andersson, 2012. "Properties of the DGS-Auction Algorithm," Computational Economics, Springer;Society for Computational Economics, vol. 39(2), pages 113-133, February.
    7. Andersson, T. & Erlanson, A. & Gudmundsson, J. & Habis, H. & Ingebretsen Carlson, J. & Kratz, J., 2014. "A method for finding the maximal set in excess demand," Economics Letters, Elsevier, vol. 125(1), pages 18-20.
    8. Andersson, Tommy & Gudmundsson, Jens & Talman, Dolf & Yang, Zaifu, 2014. "A competitive partnership formation process," Games and Economic Behavior, Elsevier, vol. 86(C), pages 165-177.
    9. Andersson, Tommy & Erlanson, Albin, 2013. "Multi-item Vickrey–English–Dutch auctions," Games and Economic Behavior, Elsevier, vol. 81(C), pages 116-129.

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    More about this item

    Keywords

    Multi-item auction; Unit-demand bidders; Excess demand; Algorithms;
    All these keywords.

    JEL classification:

    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General

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