A note on optimal allocation mechanisms
When the buyer's utility is non-linear in type, revenue-maximizing mechanisms for multiple goods may be random. This happens when the allocation rule obtained via pointwise optimization is not incentive compatible, which is possible even with strictly increasing virtual utilities.
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References listed on IDEAS
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- John G. Riley & William Samuelson, 1979.
UCLA Economics Working Papers
152, UCLA Department of Economics.
- Thanassoulis, John, 2004. "Haggling over substitutes," Journal of Economic Theory, Elsevier, vol. 117(2), pages 217-245, August.
- J. Riley & E. Maskin, 1981.
"Optimal Auctions with Risk Averse Buyers,"
311, Massachusetts Institute of Technology (MIT), Department of Economics.
- Vasiliki Skreta & Nicolas Figueroa, 2008.
"A Note on Optimal Allocation Mechanisms,"
08-13, New York University, Leonard N. Stern School of Business, Department of Economics.
- Lollivier, Stefan & Rochet, Jean-Charles, 1983. "Bunching and second-order conditions: A note on optimal tax theory," Journal of Economic Theory, Elsevier, vol. 31(2), pages 392-400, December.
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