I approached the problem using TikZ and the shapes library, though I think the ellipses are not so nice for such long content. There are two chains, both going downwards (below), all nodes have a fixed height (minimum height= and ìnner ysep=) such that they are aligned by using the same stepnode distance` on both chains,
\documentclass{standalone}
\usepackage{tikz} \usetikzlibrary{chains,positioning,scopes,shapes}
\begin{document}
\tikzstyle{myNode}=[on chain, align=center,shape=ellipse,draw, minimum width=3cm, minimum height=1cm,inner ysep=0pt]
\begin{tikzpicture}
\begin{scope}[start chain=going below, node distance=2cm]
\node [on chain, myNode] (L1) at (0,-3) {\(x_1\quad x_2\)\\\(v_2\geq0\)};
\node [on chain, myNode] (L2) {\(x_1\quad (1-x_2)\)\\\((k-1)v_2 - (k+1)v_3 \geq 0\)};
\node [on chain, myNode] (L3) {\(1-x_1\quad (1-x_2)\)\\\((k+1)v_1 - (2k-1)v_2 \geq 1\)};
\end{scope}
\begin{scope}[start chain=going below, node distance=2cm]
\node [on chain, myNode] (K1) at (7,0) {\(x_1\quad x_2\quad x_3\)\\\(2v_2\geq0\)};
\node [on chain, myNode] (K2) {\(x_1\quad x_2 \quad (1-x_3)\)\\\(v_2 + (k-2)v_3\geq 0 \geq 0\)};
\node [on chain, myNode] (K3) {\(x_1(1-x_2)(1-x_3)\)\\\((k-1)v_2 - (2k-2)v_3\geq 0\)};
\node [on chain, myNode] (K4) {\(x_1(1-x_b)(1-x_c)\)\\\(\cdots\)};
\end{scope}
\draw[->] (L1) -- (K1);
\draw[->] (L1) -- (K2);
%
\draw[->] (L2) -- (K2);
\draw[->] (L2) -- (K3);
%
\draw[->] (L3) -- (K4);
\end{tikzpicture}
\end{document}
Note that the first (left) chain starts exactely one height earlier (1cm height and 2cm node distance).
The result still needs some styling (and maybe other shapes than ellipse but its a starting point.

Edit/Update
In the first case, all edges start at the center point, because the \draw always the start/end point to be the center. to change that one can use the meta coordinates of the nodes (.north,.east,.south and .west), i.e. using for the drawing of the edges
\draw[->] (L1.east) -- (K1.west);
\draw[->] (L1.east) -- (K2.west);
%
\draw[->] (L2.east) -- (K2.west);
\draw[->] (L2.east) -- (K3.west);
%
\draw[->] (L3.east) -- (K4.west);
to obtain (includes removing the shape=ellipse and hence having rectangles):

chains? Or picking some ideas from these examples – Thruston Dec 11 '15 at 16:28chainsand then adding the connecting arrows. – Ronny Dec 11 '15 at 17:07