Multi-Unit Auctions with Budget Constraints
نویسندگان
چکیده
منابع مشابه
Multi-unit Auctions with Budget Constraints
Motivated by sponsored search auctions, we study multi-unit auctions with budget constraints. In the mechanism we propose, Sort-Cut, understating budgets or values is weakly dominated. Since Sort-Cuts revenue is increasing in budgets and values, all kinds of equilibrium deviations from true valuations turn out to be bene cial to the auctioneer. We show that the revenue of Sort-Cut can be an or...
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We study multi unit auctions in presence of budget constraints. This situation is very common in real world but has not received proper attention in theoretical literature. We will study the impact of budget on the different aspects of multi unit auctions. These results try to define a frame work in which multi unit auctions with budget constraints are working and problem we are facing in desig...
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In a combinatorial auction k different items are sold to n bidders, where the objective of the seller is to maximize the revenue. The main difficulty to find an optimal allocation is due to the fact that the valuation function of each bidder for bundles of items is not necessarily an additive function over the items. An auction with budget constraints is a common special case where bidders gene...
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We show that the the unit demand auction introduced by Demange, Gale and Sotomayor [5] is incentive compatible even when bidders have budget constraints. Furthermore we show that myopic bidding is an ex post equilibrium. Finally, we show that any other incentive compatible which always outputs a competitive equilibrium (envy free) must coincide with the DGS auction.
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Consider a first-price sealed-bid auction where participants have affiliated valuations and private budget constraints; that is, bidders have private multidimensional types. This article investigates the existence and nature of monotone equilibria in this setting. Hard budget constraints introduce two competing effects on bidding. The direct effect depresses bids as participants hit their spend...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1806069