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A note of revenue maximization and efficiency in multi-object auctions

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Author Info

  • Philippe Jehiel

    ()
    (ERAS and UCL)

  • Benny Moldovanu

    ()
    (University of Mannheim)

Abstract

Combining the result of Palfrey (1983) about the role of bundling and the revenue equivalence theorem, this note shows that there is a conflict between revenue maximization and efficiency in multi-object auctions even with symmetric bidders.

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File URL: http://www.accessecon.com/pubs/EB/2001/Volume3/EB-01C70004A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 3 (2001)
Issue (Month): 2 ()
Pages: 1-5

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Handle: RePEc:ebl:ecbull:eb-01c70004

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Keywords: efficiency;

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References

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  1. Lawrence M. Ausubel & Peter Cramton, 1998. "The Optimality of Being Efficient," Papers of Peter Cramton 98wpoe, University of Maryland, Department of Economics - Peter Cramton, revised 18 Jun 1999.
  2. Paul Milgrom, . "Putting Auction Theory to Work: The Simultaneous Ascending Auction," Working Papers 98002, Stanford University, Department of Economics.
  3. repec:wop:humbsf:2000-72 is not listed on IDEAS
  4. Engelbrecht-Wiggans, Richard, 1988. "Revenue equivalence in multi-object auctions," Economics Letters, Elsevier, vol. 26(1), pages 15-19.
  5. Palfrey, Thomas R, 1983. "Bundling Decisions by a Multiproduct Monopolist with Incomplete Information," Econometrica, Econometric Society, vol. 51(2), pages 463-83, March.
  6. Armstrong, Mark, 2000. "Optimal Multi-object Auctions," Review of Economic Studies, Wiley Blackwell, vol. 67(3), pages 455-81, July.
  7. Page Jr., F.H., 1997. "Existence of Optimal Auctions in General Environments," Discussion Paper 1997-28, Tilburg University, Center for Economic Research.
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Citations

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Cited by:
  1. Rapisarda, G., 2004. "A note on low-price menu auctions," Economics Letters, Elsevier, vol. 83(3), pages 343-346, June.
  2. Jackson, Matthew O. & Kremer, Ilan, 2004. "The relationship between the allocation of goods and a seller's revenue," Journal of Mathematical Economics, Elsevier, vol. 40(3-4), pages 371-392, June.
  3. Sandro Brusco & Giuseppe Lopomo, 2004. "Collusion via Signalling in Simultaneous Ascending Bid Auctions with Heterogeneous Objects, with and without Complementarities," Levine's Bibliography 122247000000000385, UCLA Department of Economics.
  4. Nicolás Figueroa & Vasiliki Skreta, 2007. "The Role of Outside Options in Auction Design," Documentos de Trabajo 231, Centro de Economía Aplicada, Universidad de Chile.
  5. Bresky, Michal, 2013. "Revenue and efficiency in multi-unit uniform-price auctions," Games and Economic Behavior, Elsevier, vol. 82(C), pages 205-217.

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