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Goods Revenue Monotonicity in Combinatorial Auctions

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  • Muto, Nozomu
  • Yasuhiro, Shirata
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    Abstract

    We study a new monotonicity problem in combinatorial auctions called goods revenue monotonicity, which requires that the auctioneer earn no more revenue by dropping goods from the endowments. Although no mechanism satisfies goods revenue monotonicity together with strategy-proofness, efficiency, and participation even in the domain of substitute valuations, we find a restricted domain called per-capita goodsbidder submodular domain in which there exists a goods revenue monotone mechanism satisfying the above three conditions. The restriction is likely to be met when bidders’ valuations are similar. Finally, we provide a relation to the monopoly theory, and argue that per-capita goods-bidder submodularily is independent of the standard elasticity argument.

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    File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/25908/1/070econDP13-13.pdf
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    Bibliographic Info

    Paper provided by Graduate School of Economics, Hitotsubashi University in its series Discussion Papers with number 2013-13.

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    Length: 20 p.
    Date of creation: Oct 2013
    Date of revision:
    Handle: RePEc:hit:econdp:2013-13

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    1. Olszewski, Wojciech & Chung, Kim-Sau, 2007. "A non-differentiable approach to revenue equivalence," Theoretical Economics, Econometric Society, vol. 2(4), December.
    2. Laurent Lamy, 2010. "Core-selecting package auctions: a comment on revenue-monotonicity," International Journal of Game Theory, Springer, vol. 39(3), pages 503-510, July.
    3. Lawrence M. Ausubel & Paul Milgrom, 2002. "Ascending Auctions with Package Bidding," Working Papers 02004, Stanford University, Department of Economics.
    4. Milgrom,Paul, 2004. "Putting Auction Theory to Work," Cambridge Books, Cambridge University Press, number 9780521536721, April.
    5. Holmstrom, Bengt, 1979. "Groves' Scheme on Restricted Domains," Econometrica, Econometric Society, vol. 47(5), pages 1137-44, September.
    6. Kelso, Alexander S, Jr & Crawford, Vincent P, 1982. "Job Matching, Coalition Formation, and Gross Substitutes," Econometrica, Econometric Society, vol. 50(6), pages 1483-1504, November.
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