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Competitive Equilibria for Non-quasilinear Bidders in Combinatorial Auctions

Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 10123)

Abstract

quasilinearity is a ubiquitous and questionable assumption in the standard study of Walrasian equilibria. Quasilinearity implies that a buyer’s value for goods purchased in a Walrasian equilibrium is always additive with goods purchased with unspent money. It is a particularly suspect assumption in combinatorial auctions, where buyers’ complex preferences over goods would naturally extend beyond the items obtained in the Walrasian equilibrium.

We study Walrasian equilibria in combinatorial auctions when quasilinearity is not assumed. We show that existence can be reduced to an Arrow-Debreu style market with one divisible good and many indivisible goods, and that a “fractional” Walrasian equilibrium always exists. We also show that standard integral Walrasian equilibria are related to integral solutions of an induced configuration LP associated with a fractional Walrasian equilibrium, generalizing known results for both quasilinear and non-quasilnear settings.

Keywords

Competitive Equilibrium Price Vector Combinatorial Auction Assignment Game Complementary Slackness 
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.

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Copyright information

© Springer-Verlag GmbH Germany 2016

Authors and Affiliations

  1. 1.Department of Computer ScienceCornell UniversityIthacaUSA
  2. 2.Yahoo ResearchSanta ClaraUSA

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