Incentives in core-selecting auctions with single-minded bidders
This paper considers some package auctions with known single-minded bidders. A single-minded bidder is interested in a unique bundle of goods and bids only for that bundle. We examine each bidder's incentive in Ausubel and Milgrom's (2002) ascending proxy auction and every bidder-optimal core-selecting auction. We provide a simple condition for each bidder to report his valuation truthfully, which can be expressed in a single sentence--any "rival" of my "rivals" is my "rival." The Vickrey outcome lies in the core if and only if this condition holds for every bidder; however, it is rarely satisfied.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Lawrence M. Ausubel & Paul Milgrom, 2002.
"Ascending Auctions with Package Bidding,"
02004, Stanford University, Department of Economics.
- Laurent Lamy, 2007. "The Ausubel-Milgrom Proxy Auction with Final Discounts," Working Papers 2007-25, Centre de Recherche en Economie et Statistique.
- Mishra, Debasis & Parkes, David C., 2007.
"Ascending price Vickrey auctions for general valuations,"
Journal of Economic Theory,
Elsevier, vol. 132(1), pages 335-366, January.
- MISHRA, Debasis & PARKES, David C., 2005. "Ascending price Vickrey auctions for general valuations," CORE Discussion Papers 2005052, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Mu'alem, Ahuva & Nisan, Noam, 2008. "Truthful approximation mechanisms for restricted combinatorial auctions," Games and Economic Behavior, Elsevier, vol. 64(2), pages 612-631, November.
- Robert Day & Paul Milgrom, 2008. "Core-selecting package auctions," International Journal of Game Theory, Springer;Game Theory Society, vol. 36(3), pages 393-407, March.
- Bikhchandani, Sushil & Ostroy, Joseph M., 2002. "The Package Assignment Model," Journal of Economic Theory, Elsevier, vol. 107(2), pages 377-406, December.
When requesting a correction, please mention this item's handle: RePEc:eee:gamebe:v:72:y:2011:i:2:p:602-606. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.