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econ.TH2022
Competitive equilibrium and the double auction
Itzhak Rasooly
In this paper, we revisit the common claim that double auctions necessarily generate competitive equilibria. We begin by observing that competitive equilibrium has some counterintu…
econ.TH2020★ 2 cited
The importance of being discrete: on the inaccuracy of continuous approximations in auction theory
Itzhak Rasooly, Carlos Gavidia-Calderon
While auction theory views bids and valuations as continuous variables, real-world auctions are necessarily discrete. In this paper, we use a combination of analytical and computat…