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Budget Imbalance Criteria for Auctions: A Formalized Theorem
We present an original theorem in auction theory: it specifies general conditions under which the sum of the payments of all bidders is necessarily not identically zero, and more generally not constant. Moreover, it explicitly supplies a construction for a finite minimal set of possible bids on which such a sum is not constant. In particular, this theorem applies to the important case of a seco...
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ژورنال
عنوان ژورنال: Nature
سال: 1994
ISSN: 0028-0836,1476-4687
DOI: 10.1038/370181a0