Understanding Preferences: 'Demand Types', and The Existence of Equilibrium with Indivisibilities
Understanding Preferences: 'Demand Types', and The Existence of Equilibrium with Indivisibilities
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DOI：
10.2139/ssrn.2643086
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发表时间：
2018-10
期刊：
影响因子：
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通讯作者：
E. Baldwin;P. Klemperer
中科院分区：
文献类型：
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作者：
E. Baldwin;P. Klemperer
我们提出了了解代理商估值的新技术。我们将分类为\需求类型”，结合了现有的定义（替代，补充，\强替代品等），并允许新的定义。我们的非模样定理对任何估计均具有竞争均衡的竞争平衡的结果概括为“对于不可分割的商品的需求类型。相反，与普遍的信念相反，与纯粹的纯粹组合相比，可以保证更多的平衡，而不是纯粹的纯粹组成部分。替代品，我们的交叉点计数定理，通过计算交叉几何对象的应用包括匹配和联盟形成；
We propose new techniques for understanding agents' valuations. Our classification into \demand types", incorporates existing definitions (substitutes, complements, \strong substitutes", etc.) and permits new ones. Our Unimodularity Theorem generalises previous results about when competitive equilibrium exists for any set of agents whose valuations are all of a \demand type" for indivisible goods. Contrary to popular belief, equilibrium is guaranteed for more classes of purely-complements, than of purely-substitutes, preferences. Our Intersection Count Theorem checks equilibrium existence for combinations of agents with specific valuations by counting the intersection points of geometric objects. Applications include matching and coalition-formation; and the Product-Mix Auction, introduced by the Bank of England in response to the financial crisis.