In multi-object auction models with unitary demand agents, if agents’ utility functions satisfy quasi-linearity, three auction formats, sealed-bid auction, exact ascending auction, and approximate ascending auction, are known to identify the minimum price equilibrium (MPE), and exhibit...

In multi-object auction models with unitary demand agents, if agents utility functions satisfy quasi-linearity, three auction formats, sealed-bid auction, exact ascending auction, and approximate ascending auction, are known to identify the minimum price equilibrium (MPE), and exhibit elegant...

It is possible to have income effects on more than one good in utility profiles that lead to Transferable Utility (TU) and in the presence of many private and many public goods. Assuming that the utility functions are of the Generalized Quasi-linear (GQL) form is not necessary for TU to hold. I...

Arbitrary small indivisibilities may play an important role when the strong survival assumption does not hold. A hierarchic price is a finite ordered family of price vectors <InlineEquation ID="Equ1"> <EquationSource Format="TEX"><![CDATA[$\{p_1,\ldots ,p_k\}$]]></EquationSource> </InlineEquation>. It extends the notion of exchange values proposed by Gay [15]. These price notions were introduced in order to...</equationsource></inlineequation>