The term gross substitutes is used in two slightly different meanings: 1. * In microeconomics, two commodities and are called gross substitutes, if . I.e., an increase in the price of one commodity causes people to want strictly more of the other commodity, since the commodities can substitute each other (bus and taxi are a common example). 2. * In auction theory and competitive equilibrium theory, a valuation function is said to have the gross substitutes (GS) property if for all pairs of commodities: . I.e., the definition includes both substitute goods and independent goods, and only rules out complementary goods. See Gross substitutes (indivisible items).

Property Value
dbo:abstract
  • The term gross substitutes is used in two slightly different meanings: 1. * In microeconomics, two commodities and are called gross substitutes, if . I.e., an increase in the price of one commodity causes people to want strictly more of the other commodity, since the commodities can substitute each other (bus and taxi are a common example). 2. * In auction theory and competitive equilibrium theory, a valuation function is said to have the gross substitutes (GS) property if for all pairs of commodities: . I.e., the definition includes both substitute goods and independent goods, and only rules out complementary goods. See Gross substitutes (indivisible items). (en)
dbo:wikiPageEditLink
dbo:wikiPageExtracted
  • 2019-06-11 04:49:52Z (xsd:date)
dbo:wikiPageHistoryLink
dbo:wikiPageID
  • 45543186 (xsd:integer)
dbo:wikiPageLength
  • 1270 (xsd:integer)
dbo:wikiPageModified
  • 2016-09-23 14:37:36Z (xsd:date)
dbo:wikiPageOutDegree
  • 9 (xsd:integer)
dbo:wikiPageRevisionID
  • 740824199 (xsd:integer)
dbo:wikiPageRevisionLink
dbp:wikiPageUsesTemplate
dct:subject
rdfs:comment
  • The term gross substitutes is used in two slightly different meanings: 1. * In microeconomics, two commodities and are called gross substitutes, if . I.e., an increase in the price of one commodity causes people to want strictly more of the other commodity, since the commodities can substitute each other (bus and taxi are a common example). 2. * In auction theory and competitive equilibrium theory, a valuation function is said to have the gross substitutes (GS) property if for all pairs of commodities: . I.e., the definition includes both substitute goods and independent goods, and only rules out complementary goods. See Gross substitutes (indivisible items). (en)
rdfs:label
  • Gross substitutes (en)
owl:sameAs
foaf:isPrimaryTopicOf
is foaf:primaryTopic of