On minimal ascending auctions with payment discounts

B-Tier
Journal: Games and Economic Behavior
Year: 2012
Volume: 75
Issue: 2
Pages: 990-999

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

The literature on ascending combinatorial auctions yields conflicting insights regarding the possibility to implement the Vickrey payoffs for general valuations. We introduce the class of minimal ascending auctions, a class which allows one to disconnect the final payments from the final bids but which prohibits the raising of the price vector of a provisionally winning bidder. We first establish the impossibility of implementing the Vickrey payoffs for general valuations. Second, we propose a minimal ascending auction that yields a bidder-optimal competitive equilibrium thanks to payment discounts.

Technical Details

RePEc Handle
repec:eee:gamebe:v:75:y:2012:i:2:p:990-999
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25