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Sequential Pricing Mechanisms for Surplus Division

Author

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  • Yukihiko Funaki
  • Yukio Koriyama
  • Matias Nunez
  • Giacomo Rostagno

Abstract

Extending the Price-and-Choose (P&C) mechanism of Echenique and Nunez (2025), we propose the Price-Accept-and-Choose (PA&C) mechanism, which preserves efficiency while eliminating P&C's first-mover advantage. We then analyze randomized and bidding variants and show that the resulting equilibrium payoffs correspond to standard solutions in transferable utility games: the Center of the Imputation Set value for P&C and the Shapley value for PA&C. In the randomized variants, these solutions arise in expectation; in the bidding variants, they are implemented on every equilibrium path. We further relate other efficient designs, such as balanced VCG payments, to additional solution concepts, forging an interpretable bridge between implementation theory and cooperative game theory.

Suggested Citation

  • Yukihiko Funaki & Yukio Koriyama & Matias Nunez & Giacomo Rostagno, 2026. "Sequential Pricing Mechanisms for Surplus Division," Papers 2609.02773, arXiv.org.
    • Handle: RePEc:arx:papers:2609.02773
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    File URL: https://arxiv.org/pdf/2609.02773
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