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.
|Original language||American English|
|Title of host publication||Internet and Network Economics - 8th International Workshop, WINE 2012, Proceedings|
|Number of pages||1|
|State||Published - 2012|
|Event||8th International Workshop on Internet and Network Economics, WINE 2012 - Liverpool, United Kingdom|
Duration: 10 Dec 2012 → 12 Dec 2012
|Name||Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)|
|Conference||8th International Workshop on Internet and Network Economics, WINE 2012|
|Period||10/12/12 → 12/12/12|
Bibliographical noteFunding Information:
This research was supported in part by grants from the the Science Foundation (ISF), by grants from United States-Israel Binational Science Foundation (BSF), by a grant from the Israeli Ministry of Science (MoS), by The Israeli Centers of Research Excellence (I-CORE) program, (Center No. 4/11) and by the Google Inter-university center for Electronic Markets and Auctions.