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Optimal bilateral trade of multiple objects

  • Eilat, Ran
  • Pauzner, Ady
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    We study a private-values buyer-seller problem with multiple objects. Valuations are binary and i.i.d. We construct mechanisms that span the set of all Pareto-efficient outcomes. The induced trading rules for objects are linked in a simple way.

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    File URL: http://www.sciencedirect.com/science/article/B6WFW-4YXK4H5-1/2/ff291fd1fe27be4c072fe55e84b09d15
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    Article provided by Elsevier in its journal Games and Economic Behavior.

    Volume (Year): 71 (2011)
    Issue (Month): 2 (March)
    Pages: 503-512

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    Handle: RePEc:eee:gamebe:v:71:y:2011:i:2:p:503-512
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622836

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    1. Tilman Börgers & Peter Norman, 2005. "A Note on Budget Balance under Interim Participation Constraints: The Case of Independet Types," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2005_14, Max Planck Institute for Research on Collective Goods.
    2. Hanming Fang & Peter Norman, 2008. "Optimal Provision of Multiple Excludable Public Goods," NBER Working Papers 13797, National Bureau of Economic Research, Inc.
    3. Matthew O Jackson & Hugo F Sonnenschein, 2007. "Overcoming Incentive Constraints by Linking Decisions -super-1," Econometrica, Econometric Society, vol. 75(1), pages 241-257, 01.
    4. Susan Athey & David Miller, 2006. "Efficiency in Repeated Trade with Hidden Valuations," Levine's Bibliography 784828000000000256, UCLA Department of Economics.
    5. Avery, Christopher & Hendershott, Terrence, 2000. "Bundling and Optimal Auctions of Multiple Products," Review of Economic Studies, Wiley Blackwell, vol. 67(3), pages 483-97, July.
    6. Roger B. Myerson & Mark A. Satterthwaite, 1981. "Efficient Mechanisms for Bilateral Trading," Discussion Papers 469S, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    7. Cohn, Zachary, 2010. "A note on linked bargaining," Journal of Mathematical Economics, Elsevier, vol. 46(2), pages 238-247, March.
    8. Myerson, Roger B, 1983. "Mechanism Design by an Informed Principal," Econometrica, Econometric Society, vol. 51(6), pages 1767-97, November.
    9. Myerson, Roger B, 1979. "Incentive Compatibility and the Bargaining Problem," Econometrica, Econometric Society, vol. 47(1), pages 61-73, January.
    10. Patrick Bolton & Mathias Dewatripont, 2005. "Contract Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262025760, June.
    11. McAfee, R Preston & McMillan, John & Whinston, Michael D, 1989. "Multiproduct Monopoly, Commodity Bundling, and Correlation of Values," The Quarterly Journal of Economics, MIT Press, vol. 104(2), pages 371-83, May.
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