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Independence systems in gross-substitute valuations

Chao Huang

Economics Letters, 2018, vol. 173, issue C, 135-137

Abstract: Objects may exhibit substitutabilities, complementarities as well as independencies for agents. In this paper we show that under the Kelso–Crawfordgross substitutes condition, the sets of mutual independent objects form a matroid. Hence the structure of independent objects under the gross substitutes condition has much in common with the independence system of a graph or a vector space.

Keywords: Gross substitutes; Matching; Combinatorial auctions; Matroids; M♮-concave function (search for similar items in EconPapers)
JEL-codes: C78 D46 (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:eee:ecolet:v:173:y:2018:i:c:p:135-137