Ascending auctions and Walrasian equilibrium

Oren Ben-Zwi, Ron Lavi, Ilan Newman

Research output: Working paperPreprint


We present a family of submodular valuation classes that generalizes gross substitute. We show that Walrasian equilibrium always exist for one class in this family, and there is a natural ascending auction which finds it. We prove some new structural properties on gross-substitute auctions which, in turn, show that the known ascending auctions for this class (Gul-Stacchetti and Ausbel) are, in fact, identical. We generalize these two auctions, and provide a simple proof that they terminate in a Walrasian equilibrium.
Original languageEnglish
StatePublished - 7 Jan 2013


  • cs.GT


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