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Core Deviation Minimizing Auctions

  • Isa Hafalir
  • Hadi Yektas

We study dominant strategy implementable direct mechanisms that minimize the expected surplus from core deviations. Using incentive compatibility conditions, we formulate the core deviation miminimization problem as a calculus of variations problem and then numerically solve it for some particular cases

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Paper provided by Carnegie Mellon University, Tepper School of Business in its series GSIA Working Papers with number 2012-E23.

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Handle: RePEc:cmu:gsiawp:-819383628
Contact details of provider: Postal: Tepper School of Business, Carnegie Mellon University, 5000 Forbes Avenue, Pittsburgh, PA 15213-3890
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  1. Ott, Marion & Beck, Marissa, 2013. "Incentives for Overbidding in Minimum-Revenue Core-Selecting Auctions," Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order 79946, Verein für Socialpolitik / German Economic Association.
  2. Robert W. Day & S. Raghavan, 2007. "Fair Payments for Efficient Allocations in Public Sector Combinatorial Auctions," Management Science, INFORMS, vol. 53(9), pages 1389-1406, September.
  3. Paul Klemperer & Aytek Erdil, 2009. "A New Payment Rule for Core-Selecting Package Auctions," Economics Series Working Papers 2009-W11, University of Oxford, Department of Economics.
  4. Lawrence M. Ausubel & Paul Milgrom, 2002. "Ascending Auctions with Package Bidding," Working Papers 02004, Stanford University, Department of Economics.
  5. Robert Day & Paul Milgrom, 2008. "Core-selecting package auctions," International Journal of Game Theory, Springer, vol. 36(3), pages 393-407, March.
  6. Peter Cramton, 2009. "Spectrum Auction Design," Papers of Peter Cramton 09sad, University of Maryland, Department of Economics - Peter Cramton, revised 2012.
  7. Marshall, Robert C. & Marx, Leslie M., 2007. "Bidder collusion," Journal of Economic Theory, Elsevier, vol. 133(1), pages 374-402, March.
  8. Sano, Ryuji, 2011. "Incentives in core-selecting auctions with single-minded bidders," Games and Economic Behavior, Elsevier, vol. 72(2), pages 602-606, June.
  9. Laurent Lamy, 2010. "Core-selecting package auctions: a comment on revenue-monotonicity," International Journal of Game Theory, Springer, vol. 39(3), pages 503-510, July.
  10. Robert Day & Peter Cramton, 2008. "Quadratic Core-Selecting Payment Rules for Combinatorial Auctions," Papers of Peter Cramton 08qcspr, University of Maryland, Department of Economics - Peter Cramton, revised 2012.
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