Advertisement

The AND-OR Game: Equilibrium Characterization

(Working Paper)
  • Avinatan Hassidim
  • Haim Kaplan
  • Yishay Mansour
  • Noam Nisan
Part of the Lecture Notes in Computer Science book series (LNCS, volume 7695)

Introduction and Results Overview

Walrasian equilibrium is one of the basic notions in economic theory. Items are priced in such a way that the market clears i.e. the supply for each item equals the demand for it (or there may be items with excess supply priced at zero.) When there is a Walrasian equilibrium, it captures nicely the “right” pricing of items. Unfortunately, Walrasian equilibria are guarantee to exists only for limited classes of agents’ valuations, namely gross-substitute valuations.

Keywords

Nash Equilibrium Limited Classis Excess Supply Price Auction Electronic Market 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Avinatan Hassidim
    • 1
  • Haim Kaplan
    • 2
  • Yishay Mansour
    • 2
  • Noam Nisan
    • 3
    • 4
  1. 1.Bar-Ilan University and Google Inc.Israel
  2. 2.Tel Aviv UniversityIsrael
  3. 3.Microsoft ResearchUSA
  4. 4.Hebrew University of JerusalemIsrael

Personalised recommendations