منابع مشابه
Auctions with Untrustworthy Bidders
The paper analyzes auctions which are not completely enforceable. In such auctions, the winning bidders may fail to carry out their obligations, and parties involved cannot rely on external enforcement or control mechanisms for backing up a transaction. We propose two mechanisms that make bidders directly or indirectly reveal their trustworthiness. The first mechanism is based on discriminating...
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We introduce and study share-averse auctions, a class of auctions with allocation externalities, in which items can be allocated to arbitrarily many bidders, but the valuation of each individual bidder decreases as the items get allocated to more other bidders. For single-item auctions where players have incomplete information about each others’ valuation, we characterize the truthful mechanism...
متن کاملOptimal Auctions for Spiteful Bidders
Designing revenue-optimal auctions for various settings is perhaps the most important, yet sometimes most elusive, problem in mechanism design. Spiteful bidders have been intensely studied recently, especially because spite occurs in many applications in multiagent system and electronic commerce. We derive the optimal auction for such bidders (as well as bidders that are altruistic). It is a ge...
متن کاملModelling Bidders in Sequential Automated Auctions
Auctions are mechanisms that formalise the rules with which automated trading schemes can be conducted, and in this paper we model the interaction of bidder and seller agents in sequential computerised auctions. We study the outcome of strategies that a designated “special bidder” (SB) may follow in the presence of a collection of other bidders in an English auction, under the assumption that t...
متن کاملAre Disadvantaged Bidders Doomed in Ascending Auctions?
A bidder is said to be advantaged if she has a higher expected valuation of the auction prize than her competitor. When the prize has a common-value component, a bidder competing in an ascending auction against an advantaged competitor bids especially cautiously and, hence, the advantaged bidder wins most of the time. However, contrary to what is often argued, a disadvantaged bidder still wins ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2012
ISSN: 1556-5068
DOI: 10.2139/ssrn.2170281