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A comparison of standard multi-unit auctions with synergies

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Author Info
ALBANO, Gian Luigi
GERMANO, Fabrizio
LOVO, Stefano

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Abstract

In an example with two objects and four bidders, some of which have superadditive values, we characterize the equilibria of a simultaneous ascending auction and compare the revenue and efficiency generated with ones generated by the sequential, the one-shot simultaneous, and the Vickrey-Clarke-Groves auctions.

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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1999052.

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Date of creation: 01 Oct 1999
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Handle: RePEc:cor:louvco:1999052

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Peter Cramton, 1997. "The FCC Spectrum Auctions: An Early Assessment," Journal of Economics & Management Strategy, Blackwell Publishing, vol. 6(3), pages 431-495, 09. [Downloadable!] (restricted)
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  2. McAfee, R Preston & McMillan, John, 1996. "Analyzing the Airwaves Auction," Journal of Economic Perspectives, American Economic Association, vol. 10(1), pages 159-75, Winter. [Downloadable!] (restricted)
  3. Vijay Krishna & Motty Perry, 1997. "Efficient Mechanism Design," Game Theory and Information 9703010, EconWPA, revised 28 Apr 1998. [Downloadable!]
  4. Peter Cramton, 1998. "Ascending Auctions," Papers of Peter Cramton 98eer, University of Maryland, Department of Economics - Peter Cramton, revised 28 Jul 1998. [Downloadable!]
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  5. Krishna, Vijay & Rosenthal, Robert W., 1996. "Simultaneous Auctions with Synergies," Games and Economic Behavior, Elsevier, vol. 17(1), pages 1-31, November. [Downloadable!] (restricted)
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  6. Branco, Fernando, 1997. "Sequential auctions with synergies: An example," Economics Letters, Elsevier, vol. 54(2), pages 159-163, February. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Dakshina G. De Silva & Anuruddha Kankanamge & Georgia Kosmopoulou, 2005. "The Impact Of Change In Auction Format On Bidding Behavior," Microeconomics 0512009, EconWPA. [Downloadable!]
  2. Gian Albano & Fabrizio Germano & Stefano Lovo, 2006. "Retaliatory Equilibria in a Japanese Ascending Auction for Multiple Objects," Review of Economic Design, Springer, vol. 10(1), pages 1-8, April. [Downloadable!] (restricted)
  3. Zheng, Charles Zhoucheng, 2006. "Jump Bidding and Overconcentration in Decentralized Simultaneous Ascending Auctions," Staff General Research Papers 12698, Iowa State University, Department of Economics. [Downloadable!]
  4. Lunander, Anders & Lundberg, Sofia, 2009. "Do Combinatorial Procurement Auctions Lower Cost? - An Empirical Analysis of Public Procurement of Multiple Contracts," UmeÃ¥ Economic Studies 776, Umeå University, Department of Economics, revised 16 Sep 2009. [Downloadable!]
  5. LOVO, Stefano & ALBANO, Gian Luigi & GERMANO, Fabrizio, 2002. "On some collusive and signaling equilibria in ascending auctions for multiple objects," Les Cahiers de Recherche 765, HEC Paris. [Downloadable!]
  6. Veronika Grimm, 2006. "Sequential versus Bundle Auctions for Recurring Procurement," Working Paper Series in Economics 27, University of Cologne, Department of Economics. [Downloadable!]
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