IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Optimal Multiunit Exchange Design with Single-Dimensionality

  • Hitoshi Matsushima

    (Graduate School of Economics, The University of Tokyo, Tokyo)

We investigate allocation problems that generalize auction and bargaining, namely multiunit exchanges, where both a central planner and participants bring homogeneous commodities to sell altogether, and there exist restrictions on feasible allocations. We characterize the optimal mechanism in terms of revenue-maximization under dominant strategy incentive compatibility and ex-post individual rationality. We introduce modified virtual valuation, and show that, irrespective of the restrictions, the optimization can be replaced with the maximization of the sum of modified virtual valuations. We apply this result to an important class of allocation problems for heterogeneous items with single-item demands based on Mussa and Rosen (1978).

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.

File URL: http://www.carf.e.u-tokyo.ac.jp/pdf/workingpaper/fseries/304.pdf
Download Restriction: no

Paper provided by Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo in its series CARF F-Series with number CARF-F-292.

as
in new window

Length: 25 pages
Date of creation: May 2012
Date of revision: Sep 2012
Handle: RePEc:cfi:fseres:cf292
Contact details of provider: Postal: Hongo 7-3-1, Bunkyo-ku, Tokyo 113-0033
Phone: +81-3-5841-0682
Web page: http://www.carf.e.u-tokyo.ac.jp/english/
Email:


More information through EDIRC

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.:

as in new window
  1. repec:cup:cbooks:9780521551847 is not listed on IDEAS
  2. Alex Gershkov & Benny Moldovanu, 2009. "Dynamic Revenue Maximization with Heterogeneous Objects: A Mechanism Design Approach," American Economic Journal: Microeconomics, American Economic Association, vol. 1(2), pages 168-98, August.
  3. Susan Athey & Glenn Ellison, 2009. "Position Auctions with Consumer Search," NBER Working Papers 15253, National Bureau of Economic Research, Inc.
  4. repec:cup:cbooks:9780521536721 is not listed on IDEAS
  5. Varian, Hal R., 2007. "Position auctions," International Journal of Industrial Organization, Elsevier, vol. 25(6), pages 1163-1178, December.
  6. Alex Gershkov & Jacob Goeree & Alexey Kushnir & Benny Moldovanu & Xianwen Shi, 2012. "On the Equivalence of Bayesian and Dominant Strategy Implementation," Working Papers tecipa-445, University of Toronto, Department of Economics.
  7. 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.
  8. Monteiro, Paulo Klinger, 2002. "Optimal auctions in a general model of identical goods," Journal of Mathematical Economics, Elsevier, vol. 37(1), pages 71-79, February.
  9. Fernando Branco, 1996. "Multiple unit auctions of an indivisible good," Economic Theory, Springer, vol. 8(1), pages 77-101.
  10. Levent Ülkü, 2013. "Optimal combinatorial mechanism design," Economic Theory, Springer, vol. 53(2), pages 473-498, June.
  11. Hitoshi Matsushima, 2011. "Efficient Combinatorial Exchanges with Opt-Out Types," CARF F-Series CARF-F-294, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo, revised Aug 2012.
  12. Mussa, Michael & Rosen, Sherwin, 1978. "Monopoly and product quality," Journal of Economic Theory, Elsevier, vol. 18(2), pages 301-317, August.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:cfi:fseres:cf292. 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: ()

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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.