Assistant Researcher Zhang Chi from the School of Economics Publishes Research in International Authoritative Economics Journal Journal of Mathematical Economics

Recently, the collaborative paper A globally convergent alternating one-track auction for gross substitutes and complements by Assistant Researcher Zhang Chi from the Department of Finance, School of Economics at Shandong University was officially published in Journal of Mathematical Economics, an international authoritative economics journal. The collaborator of this paper is Dr. Song Siqi from Yiqun Investment Holding Co., Ltd.

In the multi-item auction market, items often have both substitutability and complementarity. In this context, designing an efficient and fair pricing mechanism has become a core problem to be solved urgently. This research proposes the "Globally Convergent Alternating One-Track Auction (GAOT)" mechanism, expands the existing "two-track auction" model, and proves that this mechanism can converge to Walrasian equilibrium from any initial price.

This research provides a new idea for auction mechanism design at the theoretical level. The alternating one-track auction mechanism expands the existing theoretical framework and provides a reference for further research on pricing and resource allocation in markets where complementary and substitute goods coexist.

Zhang Chi is an assistant researcher at the Department of Finance, School of Economics at Shandong University. His main research directions are microeconomics and financial theory. Research achievements have been published in international authoritative journals such as Journal of Economic Dynamics and Control, Journal of Mathematical Economics, and Operational Research Letters.