The family of c-bisection auctions: efficiency and running time
AbstractIn 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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Bibliographic InfoPaper provided by Maastricht : METEOR, Maastricht Research School of Economics of Technology and Organization in its series Research Memoranda with number 019.
Date of creation: 2006
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-07-02 (All new papers)
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