Second best efficiency and the English auction

B-Tier
Journal: Games and Economic Behavior
Year: 2011
Volume: 73
Issue: 2
Pages: 496-506

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

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

Abstract

We study the second best in a single unit sale to two bidders. This is the allocation that maximizes the expected social surplus subject to the biddersʼ incentive compatible constraints when the first best is not implementable. We prove that Maskinʼs (1992) result that any first best allocation that is deterministic and monotone can be implemented with the English auction carries over to the second best.

Technical Details

RePEc Handle
repec:eee:gamebe:v:73:y:2011:i:2:p:496-506
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25