A general characterization of the minimum price Walrasian rule with reserve prices

B-Tier
Journal: Games and Economic Behavior
Year: 2025
Volume: 150
Issue: C
Pages: 1-26

Authors (3)

Wakabayashi, Yuya (not in RePEc) Sakai, Ryosuke (not in RePEc) Serizawa, Shigehiro (Osaka University of Economics)

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

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

Abstract

We consider economies consisting of arbitrary numbers of agents and objects, and study the multi-object allocation problem with monetary transfers. Each agent obtains at most one object (unit-demand), and has non-quasi-linear preferences, which accommodate income effects or nonlinear borrowing costs. The seller may derive benefit from objects. We show that on the non-quasi-linear domain, the minimum price Walrasian rule in which reserve prices are equal to the benefit the seller derives is the only rule satisfying four desirable properties; efficiency, individual rationality for the buyers, no-subsidy, and strategy-proofness. Moreover, we characterize the minimum price Walrasian rule by efficiency, overall individual rationality, and strategy-proofness.

Technical Details

RePEc Handle
repec:eee:gamebe:v:150:y:2025:i:c:p:1-26
Journal Field
Theory
Author Count
3
Added to Database
2026-01-29