Auction Format and Auction Sequence in Multi-Item Multi-Unit Auctions -- An Experimental Study
نویسندگان
چکیده
منابع مشابه
Multi-Item Vickrey-Dutch Auction for Unit Demand Preferences
We consider an economy with one seller and m selfish buyers. The seller has n indivisible heterogeneous items to sell and each buyer wants at most one of those items. Buyers have private, independent and known value on the items. We propose an exact Vickrey-Dutch auction, where prices of appropriate items are decreased by unity in each iteration. This auction converges to Vickrey payoff point e...
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We provide an ascending auction that yields an e¢ cient outcome when there are many identical units for sale and bidders have interdependent values and downward-sloping demand. Our ascending auction both extends and generalizes Ausubels (1997) and yields the same outcome as Perry and Renys (2002) generalization of Vickreys (1961) sealed-bid auction. There are two key features of our auction....
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Combinatorial auctions allow bidding for combinations of items (package bids) and are a useful tool when complementarities/synergies among sale objects are present. In such cases, package biding improves economic efficiency by helping bidders win packages that capture the value added due to synergies. The revenue of the seller may also increase as a result. At the same time, when synergies are ...
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A number of heterogeneous items are to be sold to a group of potential bidders. Every bidder knows his own values over the items and his own budget privately. Due to budget constraint, bidders may not be able to pay up to their values. In such a market, a Walrasian equilibrium typically fails to exist and also the existing auctions usually do not work properly anymore. To deal with such markets...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2014
ISSN: 1556-5068
DOI: 10.2139/ssrn.2458238