A Double-Track Adjustment Process for Discrete Markets With Substitutes and Complements
提出一种新的瓦尔拉斯试错过程(双轨程序),用于将两组不可分割的异质物品有效分配给众多买家,其中同组物品为替代品、跨组物品为互补品,并证明该过程在有限轮次内全局收敛至瓦尔拉斯均衡。
We propose a new Walrasian tatonnement process called a double-track procedure for efficiently allocating multiple heterogeneous indivisible items in two distinct sets to many buyers who view items in the same set as substitutes but items across the two sets as complements. In each round of the process, a Walrasian auctioneer first announces the current prices for all items, buyers respond by reporting their demands at these prices, and then the auctioneer adjusts simultaneously the prices of items in one set upward but those of items in the other set downward. It is shown that this procedure converges globally to a Walrasian equilibrium in finitely many rounds. Copyright 2009 The Econometric Society.