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Groves sealed bid auctions of heterogeneous objects with fair prices

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  • Szilvia Pápai

Abstract

We study the allocation of heterogeneous indivisible objects to agents whose valuations of the objects depend on what other objects they are obtained with. We apply the envyfree criterion to Groves sealed bid auctions, which are value maximizing and dominant strategy incentive compatible for this multi-object allocation problem. First we show that if valuations are unrestricted then there is no Groves auction which ensures that the allocation is always envyfree. We obtain a positive result, however, if the valuations of the objects are superadditive, and give a complete characterization of Groves prices that guarantee envyfreeness for superadditive valuations. Copyright Springer-Verlag Berlin Heidelberg 2003

Suggested Citation

  • Szilvia Pápai, 2003. "Groves sealed bid auctions of heterogeneous objects with fair prices," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 20(3), pages 371-385, June.
  • Handle: RePEc:spr:sochwe:v:20:y:2003:i:3:p:371-385
    DOI: 10.1007/s003550200185
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    Citations

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    Cited by:

    1. Sprumont, Yves, 2013. "Constrained-optimal strategy-proof assignment: Beyond the Groves mechanisms," Journal of Economic Theory, Elsevier, vol. 148(3), pages 1102-1121.
    2. Shigehiro Serizawa, 2006. "Strategy-Proof and Anonymous Allocation Rules of Indivisible Goods: A New Characterization of Vickrey Allocation Rule," ISER Discussion Paper 0648, Institute of Social and Economic Research, Osaka University.
    3. Vito Fragnelli & Maria Erminia Marina, 2009. "Strategic Manipulations and Collusions in Knaster Procedure," Czech Economic Review, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, vol. 3(2), pages 143-153, July.
    4. de Vries, Sven & Schummer, James & Vohra, Rakesh V., 2007. "On ascending Vickrey auctions for heterogeneous objects," Journal of Economic Theory, Elsevier, vol. 132(1), pages 95-118, January.
    5. Duygu Yengin, 2012. "Egalitarian-equivalent Groves mechanisms in the allocation of heterogenous objects," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(1), pages 137-160, January.
    6. Shinji Ohseto, 2006. "Characterizations of strategy-proof and fair mechanisms for allocating indivisible goods," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 29(1), pages 111-121, September.
    7. Duygu Yengin, 2011. "Population Monotonic and Strategy-Proof Mechanisms Respecting Welfare Lower Bounds," School of Economics Working Papers 2011-34, University of Adelaide, School of Economics.
    8. Youngsub Chun & Manipushpak Mitra & Suresh Mutuswami, 2014. "Egalitarian equivalence and strategyproofness in the queueing problem," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 56(2), pages 425-442, June.
    9. Duygu Yengin, 2013. "Identical Preferences Lower Bound for Allocation of Heterogenous Tasks and NIMBY Problems," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 15(4), pages 580-601, August.
    10. Yengin, Duygu, 2013. "Population monotonic and strategy-proof mechanisms respecting welfare lower bounds," Journal of Mathematical Economics, Elsevier, vol. 49(5), pages 389-397.

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