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Deterministic single object auctions with private values

Author

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  • Debasis Mishra

    (Indian Statistical Institute, New Delhi)

  • Abdul Quadir

    (Indian Statistical Institute, New Delhi)

Abstract

We study deterministic single object auctions in private values environments. We show that a deterministic allocation rule is implementable (in dominant strategies) if and only if it is a generalized utility maximizer. With a mild continuity condition, we show that a deterministic allocation rule is implementable and non-bossy if and only if it is a virtual utility maximizer (with appropriate tie-breaking). Both our results extend the seminal result of Roberts (1979) from unrestricted domain to the restricted domain of single object auctions.

Suggested Citation

  • Debasis Mishra & Abdul Quadir, 2012. "Deterministic single object auctions with private values," Discussion Papers 12-06, Indian Statistical Institute, Delhi.
    • Handle: RePEc:alo:isipdp:12-06
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    File URL: http://www.isid.ac.in/~pu/dispapers/dp12-06.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    single object auction; implementation in dominant strategies; rationalizability; non-bossiness;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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