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Generalized reduced-form auctions: a network-flow approach

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  • Yeon-Koo Che
  • Jinwoo Kim
  • Konrad Mierendorff

Abstract

We develop a network-flow approach for characterizing interim-allocation rules that can be implemented by ex post allocations. Our method can be used to characterize feasible interim allocations in general multi-unit auctions where agents face capacity constraints, both ceilings and floors. Applications include a variety of settings of practical interest, ranging from individual and group-specific capacity constraints, set-aside sale, partnership dissolution, and government license reallocation.

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Bibliographic Info

Paper provided by Department of Economics - University of Zurich in its series ECON - Working Papers with number 031.

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Date of creation: Sep 2011
Date of revision: Mar 2013
Handle: RePEc:zur:econwp:031

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Keywords: Reduced-form auctions; network-flow approach; feasible circulation flow; paramodular capacity constraints;

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  1. Che, Yeon-Koo & Dessein, Wouter & Kartik, Navin, 2010. "Pandering to Persuade," CEPR Discussion Papers 7970, C.E.P.R. Discussion Papers.
  2. Sandro Brusco & Giuseppe Lopomo, 2004. "Collusion via Signalling in Simultaneous Ascending Bid Auctions with Heterogeneous Objects, with and without Complementarities," Levine's Bibliography 122247000000000385, UCLA Department of Economics.
  3. Asker, John & Cantillon, Estelle, 2007. "Procurement when Price and Quality Matter," CEPR Discussion Papers 6082, C.E.P.R. Discussion Papers.
  4. McAfee, R Preston & McMillan, John, 1992. "Bidding Rings," American Economic Review, American Economic Association, vol. 82(3), pages 579-99, June.
    • McAfee, R. Preston & McMillan, John., 1990. "Bidding Rings," Working Papers 726, California Institute of Technology, Division of the Humanities and Social Sciences.
  5. Steven A. Matthews, 1983. "On the Implementability of Reduced Form Auctions," Discussion Papers 560, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Mallesh M. Pai & Rakesh Vohra, 2008. "Optimal Auctions with Financially Constrained Bidders," Discussion Papers 1471, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  7. Alex Gershkov & Benny Moldovanu & Xianwen Shi, 2011. "Bayesian and Dominant Strategy Implementation Revisited," Working Papers tecipa-422, University of Toronto, Department of Economics.
  8. David J. Salant, 1997. "Up in the Air: GTE's Experience in the MTA Auction for Personal Communication Services Licenses," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 6(3), pages 549-572, 09.
  9. Parlane, S., 1998. "Contracting with Capacity Constrained Suppliers," Papers 98/4, College Dublin, Department of Political Economy-.
  10. Armstrong, Mark, 2000. "Optimal Multi-object Auctions," Review of Economic Studies, Wiley Blackwell, vol. 67(3), pages 455-81, July.
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Cited by:
  1. Pai, Mallesh M. & Vohra, Rakesh, 2014. "Optimal auctions with financially constrained buyers," Journal of Economic Theory, Elsevier, vol. 150(C), pages 383-425.

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