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The family of c-bisection auctions: efficiency and running time

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Author Info
Grigorieva, Elena
Herings, P. Jean-Jacques
Müller, Rudolf
Vermeulen, Dries (METEOR)

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Abstract

In this paper we analyze the performance of a recently proposed sequential auction, called the c-bisection auction, that can be used for a sale of a single indivisible object. We discuss the running time and the e±ciency in the ex-post equilibrium of the auction. We show that by changing the parameter c of the auction we can trade o® e±ciency against running time. Moreover, we show that the auction that gives the desired level of e±ciency in expectation takes the same number of rounds for any number of players.

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Paper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number 019.

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Date of creation: 2006
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Handle: RePEc:dgr:umamet:2006019

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Keywords: computer science applications;

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References listed on IDEAS
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.:
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  7. Beaudry, Paul, 1994. "Why an Informed Principal May Leave Rents to an Agent," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(4), pages 821-32, November. [Downloadable!] (restricted)
  8. Gromb, Denis & Martimort, David, 2004. "The Organization of Delegated Expertise," CEPR Discussion Papers 4572, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  1. Mengel Friederike & Peeters Ronald, 2009. "Strategic behavior in repeated voluntary contribution experiments," Research Memoranda 025, Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization. [Downloadable!]
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