Package Auctions and Exchanges
AbstractWe report recent advances concerning the package allocation problem, in which traders seek to buy or sell combinations of goods. The problems are most difficult when some goods are not substitutes. In that case, competitive equilibrium typically fail to exist but the core is non-empty and comprises the competitive solutions. Also in that case, the Vickrey auction fails to select core allocations and yield revenues that are less than competitive. The Ausubel-Milgrom auction generally selects core allocations and, when goods are substitutes, prescribes the Vickrey allocation. We also evaluate the problems and promise of mechanisms for the package exchange problem. Copyright The Econometric Society 2007.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Econometric Society in its journal Econometrica.
Volume (Year): 75 (2007)
Issue (Month): 4 (07)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Paul Milgrom, 2008.
"Assignment Messages and Exchanges,"
08-014, Stanford Institute for Economic Policy Research.
- Erlanson, Albin & Szwagrzak, Karol, 2014.
"Strategy-proof package assignment,"
Discussion Papers of Business and Economics
5/2014, Department of Business and Economics, University of Southern Denmark.
- Dan Kovenock J. & Brian Roberson & Roman M. Sheremeta, 2010.
"The Attack and Defense of Weakest-Link Networks,"
CESifo Working Paper Series
3211, CESifo Group Munich.
- Dan Kovenock & Brian Roberson & Roman M. Sheremeta, 2010. "The Attack and Defense of Weakest-Link Networks," Working Papers 10-14, Chapman University, Economic Science Institute.
- Dan Kovenock & Brian Roberson & Roman M. Sheremeta, 2010. "The Attack and Defense of Weakest-Link Networks," Purdue University Economics Working Papers 1256, Purdue University, Department of Economics.
- Kan Takeuchi & John Lin & Yan Chen & Thomas Finholt, 2010. "Scheduling with package auctions," Experimental Economics, Springer, vol. 13(4), pages 476-499, December.
- Peter Cramton, 2009.
"Spectrum Auction Design,"
Papers of Peter Cramton
09sad, University of Maryland, Department of Economics - Peter Cramton, revised 2012.
- Ning Sun & Zaifu Yang, 2014. "An Efficient and Incentive Compatible Dynamic Auction for Multiple Complements," Discussion Papers 14/06, Department of Economics, University of York.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.