### Abstract

Original language | English |
---|---|

Place of Publication | Tilburg |

Publisher | Microeconomics |

Number of pages | 23 |

Volume | 2006-84 |

Publication status | Published - 2006 |

### Publication series

Name | CentER Discussion Paper |
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Volume | 2006-84 |

### Fingerprint

### Keywords

- invisible goods
- Walrasian equilibrium
- auctions

### Cite this

*Overdemand and Underdemand in Economies with Indivisible Goods and Unit Demands*. (CentER Discussion Paper; Vol. 2006-84). Tilburg: Microeconomics.

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**Overdemand and Underdemand in Economies with Indivisible Goods and Unit Demands.** / Mishra, D.; Talman, A.J.J.

Research output: Working paper › Discussion paper › Other research output

TY - UNPB

T1 - Overdemand and Underdemand in Economies with Indivisible Goods and Unit Demands

AU - Mishra, D.

AU - Talman, A.J.J.

N1 - Subsequently published in Journal of Mathematical Economics, 2010 (rt) Pagination: 23

PY - 2006

Y1 - 2006

N2 - We study an economy where a collection of indivisible goods are sold to a set of buyers who want to buy at most one good.We characterize the set of Walrasian equilibrium price vectors in such an economy using sets of overdemanded and underdemanded goods.Further, we give characterizations for the minimum and the maximum Walrasian equilibrium price vectors of this economy.As a consequence of these characterizations, we can say if overdemanded sets of goods and underdemanded sets of goods exist at a price vector given its position in the price vector space with respect to the minimum and the maximum Walrasian equilibrium price vectors.We also analyze what happens with the Walrasian equilibrium price vectors if one of the buyers or one of the goods is removed from the economy.

AB - We study an economy where a collection of indivisible goods are sold to a set of buyers who want to buy at most one good.We characterize the set of Walrasian equilibrium price vectors in such an economy using sets of overdemanded and underdemanded goods.Further, we give characterizations for the minimum and the maximum Walrasian equilibrium price vectors of this economy.As a consequence of these characterizations, we can say if overdemanded sets of goods and underdemanded sets of goods exist at a price vector given its position in the price vector space with respect to the minimum and the maximum Walrasian equilibrium price vectors.We also analyze what happens with the Walrasian equilibrium price vectors if one of the buyers or one of the goods is removed from the economy.

KW - invisible goods

KW - Walrasian equilibrium

KW - auctions

M3 - Discussion paper

VL - 2006-84

T3 - CentER Discussion Paper

BT - Overdemand and Underdemand in Economies with Indivisible Goods and Unit Demands

PB - Microeconomics

CY - Tilburg

ER -