In a first-price auction, asymmetries among bidders typically result in inefficient allocations— that is, the winner of the auction may not be the person who values the object the most. This inefficiency creates a motive for post-auction resale, and when bidders take resale possibilities into account, their bidding behavior is affected as well. Standard models of such auctions, by and large, im...

Multi-attribute resource allocation problems involves the allocation of resources on the basis of several attributes, therefore, the definition of a fairness method for this kind of auctions should be formulated from a multidimensional perspective. Under such point of view, fairness should take into account all the attributes involved in the allocation problem, since focusing in just a single a...

The high prices that occurred in southern California since the Summer, 2000 led to a substantial amount of regulatory and political intervention. Price caps were lowered and the Federal Energy Regulatory Commission (FERC) proposed that a new type of “soft cap” auction should be adopted. This auction combines a standard uniform price auction with a discriminative auction for offers higher than a...

This paper analyzes U.S. PCS spectrum auctions in several key ways. First, a history of how the FCC came to the decision to auction spectrum rather than assign it using a different method is provided. Then, the specific rules and procedures used in the auctions are explained and the strengths and flaws of each significant auction trait are exposed. Auctions in the U.S. are compared to 3G auctio...

In recent years, auction theory has been extensively studied and many state-of-art solutions have been proposed aiming at allocating scarce resources (e.g. spectrum resources in wireless communications). Unfortunately, most of these studies assume that the auctioneer is always trustworthy in the sealedbid auctions, which is not always true in a more realistic scenario. On the other hand, perfor...

We derive a necessary and sufficient condition for the existence of equilibria with only two active players in the all-pay auction with complete information and identity-dependent externalities. This condition shows that the generic equilibrium of the standard all-pay auction is robust to the introduction of "small" identity-dependent externalities. In general, however, the presence of identity...

We describe an auction mechanism in the class of Groves mechanisms that has received attention in the computer science literature because of its theoretical property of being more “learnable” than the standard second price auction mechanism. We bring this mechanism, which we refer to as the “clamped second price auction mechanism,” into the laboratory to determine whether it helps human subject...

We derive a necessary and sufficient condition for the existence of equilibria with only two active players in the all-pay auction with complete information and identity-dependent externalities. This condition shows that the generic equilibrium of the standard all-pay auction is robust to the introduction of "small" identity-dependent externalities. In general, however, the presence of identity...

Abstract Wood attributes are important, because they directly affect the price persistence of wood products. Consumers consider “aesthetic,” “traditionality,” “decay resistance,” and “scarcity” important when evaluating wood. This study analyzed impact these four on acoustic guitars. We obtained data from a Japanese internet auction platform winning-bid for two representative brands, Martin Yam...

Assuming that bidders wish to acquire at most one item, this paper defines a polynomial time multiitem auction that locates the VCG prices in a finite number of iterations for any given starting prices. This auction is called the Vickrey-English-Dutch auction and it contains the Vickrey-English auction (J.K. Sankaran, Math. Soc. Sci. 28:143–150, 1994) and the Vickrey-Dutch auction (D. Mishra an...