Optimal auctions for asymmetrically budget constrained bidders
نویسندگان
چکیده
منابع مشابه
Keyword Auctions with Budget-constrained Bidders
We study a keyword auction model where bidders have constrained budgets. In the absence of budget constraints, Edelman, Ostrovsky, and Schwarz (2007) and Varian (2007) analyze “locally envy-free equilibrium” or “symmetric Nash equilibrium” bidding strategies in generalized second-price (GSP) auctions. However, bidders often have to set their daily budgets when they participate in an auction; on...
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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...
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ژورنال
عنوان ژورنال: Review of Economic Design
سال: 2008
ISSN: 1434-4742,1434-4750
DOI: 10.1007/s10058-008-0051-x