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Dynamic Marginal Contribution Mechanism

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Author Info

  • Dirk Bergemann
  • Juuso Välimäki

Abstract

We develop the marginal contribution mechanism in detail for a sequential auction of a single object in which each bidders learn over time her true valuation of the object. We show that a modified second price auction leads to truthtelling.

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Bibliographic Info

Paper provided by UCLA Department of Economics in its series Levine's Bibliography with number 843644000000000300.

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Date of creation: 31 Jul 2007
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Handle: RePEc:cla:levrem:843644000000000300

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References

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  1. Dirk Bergemann & Juuso Valimaki, 1998. "Dynamic Common Agency," Discussion Papers 1259, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Partha Dasgupta & Eric Maskin, 2000. "Efficient Auctions," The Quarterly Journal of Economics, MIT Press, vol. 115(2), pages 341-388, May.
  3. Benjamin Edelman & Michael Ostrovsky & Michael Schwarz, 2007. "Internet Advertising and the Generalized Second-Price Auction: Selling Billions of Dollars Worth of Keywords," American Economic Review, American Economic Association, vol. 97(1), pages 242-259, March.
  4. Susan Athey & Ilya Segal, 2007. "Designing Efficient Mechanisms for Dynamic Bilateral Trading Games," Levine's Bibliography 321307000000000892, UCLA Department of Economics.
  5. Freixas, Xavier & Guesnerie, Roger & Tirole, Jean, 1985. "Planning under Incomplete Information and the Ratchet Effect," Review of Economic Studies, Wiley Blackwell, vol. 52(2), pages 173-91, April.
  6. repec:wop:humbsf:2000-72 is not listed on IDEAS
  7. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, 03.
  8. Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-31, July.
  9. Ilya Segal & Susan Athey, 2007. "Designing Efficient Mechanisms for Dynamic Bilateral Trading Games," American Economic Review, American Economic Association, vol. 97(2), pages 131-136, May.
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Cited by:
  1. Said, Maher, 2008. "Information Revelation and Random Entry in Sequential Ascending Auctions," MPRA Paper 7160, University Library of Munich, Germany.
  2. Alex Gershkov & Benny Moldovanu, 2010. "Optimal Search, Learning and Implementation," Discussion Paper Series dp543, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  3. Deb, Rahul, 2008. "Optimal Contracting Of New Experience Goods," MPRA Paper 9880, University Library of Munich, Germany.

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