On competitiveness in uniform utility allocation markets

On competitiveness in uniform utility allocation markets

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Article ID: iaor20102950
Volume: 37
Issue: 3
Start Page Number: 155
End Page Number: 158
Publication Date: May 2009
Journal: Operations Research Letters
Authors: ,
Abstract:

We call a market competitive if increasing the endowment of one buyer does not increase the equilibrium utility of another. We show that every competitive uniform utility allocation market is a submodular utility allocation market, answering a question of Jain and Vazirani (2007). Our proof proceeds via characterizing non-submodular fractionally sub-additive functions.

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