Computing a Walrasian equilibrium in iterative auctions with multiple differentiated items

Kazuo Murota, Akiyoshi Shioura, Zaifu Yang

Research output: Chapter in Book/Report/Conference proceedingConference contribution

6 Citations (Scopus)

Abstract

We address the problem of computing a Walrasian equilibrium price in an ascending auction with gross substitutes valuations. In particular, an auction market is considered where there are multiple differentiated items and each item may have multiple units. Although the ascending auction is known to find an equilibrium price vector in finite time, little is known about its time complexity. The main aim of this paper is to analyze the time complexity of the ascending auction globally and locally, by utilizing the theory of discrete convex analysis. An exact bound on the number of iterations is given in terms of the ℓ distance between the initial price vector and an equilibrium, and an efficient algorithm to update a price vector is designedbased on a min-max theorem for submodular function minimization.

Original languageEnglish
Title of host publicationAlgorithms and Computation - 24th International Symposium, ISAAC 2013, Proceedings
Pages468-478
Number of pages11
DOIs
Publication statusPublished - 2013
Event24th International Symposium on Algorithms and Computation, ISAAC 2013 - Hong Kong, China
Duration: 2013 Dec 162013 Dec 18

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume8283 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Other

Other24th International Symposium on Algorithms and Computation, ISAAC 2013
CountryChina
CityHong Kong
Period13/12/1613/12/18

ASJC Scopus subject areas

  • Theoretical Computer Science
  • Computer Science(all)

Fingerprint Dive into the research topics of 'Computing a Walrasian equilibrium in iterative auctions with multiple differentiated items'. Together they form a unique fingerprint.

Cite this