The Economics of Equilibrium with Indivisible Goods
基于需求的经济条件，提出不可分割商品的竞争均衡理论，通过分析商品组合间的互补与替代关系，给出均衡存在的充分必要条件，对拍卖设计有启示。
Abstract This paper develops a theory of competitive equilibrium with indivisible goods based entirely on economic conditions on demand. The key idea is to analyze complementarity and substitutability between bundles of goods, rather than merely between goods themselves. This approach allows us to formulate sufficient and essentially necessary conditions for equilibrium existence—which unify settings with complements and settings with substitutes. Our analysis has implications for auction design.