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Practically Implementable Auction for a Good with Countervailing Positive Externalities

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  • Bhirombhakdi, Kornpob
  • Potipiti, Tanapong

Abstract

This study theoretically presents a new auction design called "take-or-give auction." The auction solves the free-rider problem in the case of two symmetric and risk-neutral bidders competing for a good with countervailing positive externalities. The auction makes efficient allocation. Moreover, the extension of the auction by addition some rules maximizes the seller's expected revenue.

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File URL: http://mpra.ub.uni-muenchen.de/42911/
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File URL: http://mpra.ub.uni-muenchen.de/43609/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 42911.

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Date of creation: 29 Nov 2012
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Handle: RePEc:pra:mprapa:42911

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Keywords: Auction design; positive externalities; countervailing;

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  1. ehiel, Philippe & Benny Moldovanu & Ennio Stacchetti, 1994. "How (not) to sell nuclear weapons," Discussion Paper Serie B 288, University of Bonn, Germany.
  2. Lewis, Tracy R. & Sappington, David E. M., 1989. "Countervailing incentives in agency problems," Journal of Economic Theory, Elsevier, vol. 49(2), pages 294-313, December.
  3. Jehiel, Phillipe & Moldovanu, Benny, 1997. "Auctions with Downstream Interaction among Buyers," Sonderforschungsbereich 504 Publications 97-06, Sonderforschungsbereich 504, Universit├Ąt Mannheim & Sonderforschungsbereich 504, University of Mannheim.
  4. Chen, Bo & Potipiti, Tanapong, 2010. "Optimal selling mechanisms with countervailing positive externalities and an application to tradable retaliation in the WTO," Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 825-843, September.
  5. Bagwell, Kyle & Mavroidis, Petros C. & Staiger, Robert W., 2007. "Auctioning countermeasures in the WTO," Journal of International Economics, Elsevier, vol. 73(2), pages 309-332, November.
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