Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5128407 | Operations Research Letters | 2016 | 4 Pages |
Abstract
We consider the gross-substitute (GS) condition introduced by Kelso and Crawford (1982). GS is a condition on the demand-flow in a specific scenario: some items become more expensive while other items retain their price. We prove that GS is equivalent to a much stronger condition, describing the demand-flow in the general scenario in which all prices may change: the demand of GS agents always flows (weakly) downwards, i.e., from items with higher price-increase to items with lower price-increase.
Related Topics
Physical Sciences and Engineering
Mathematics
Discrete Mathematics and Combinatorics
Authors
Erel Segal-Halevi, Avinatan Hassidim, Yonatan Aumann,