A comparison of standard multi-unit auctions with synergies
In an example with two objects and four bidders, some of which have superadditive values, we characterize the equilibria of a simultaneous ascending auction and compare the revenue and efficiency generated with ones generated by the sequential, the one-shot simultaneous, and the Vickrey-Clarke-Groves auctions.
|Date of creation:||01 Oct 1999|
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- Paul Milgrom, .
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98002, Stanford University, Department of Economics.
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"Simultaneous Auctions with Synergies,"
0056, Boston University - Industry Studies Programme.
- Peter Cramton, 1998.
Papers of Peter Cramton
98eer, University of Maryland, Department of Economics - Peter Cramton, revised 28 Jul 1998.
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Games and Economic Behavior,
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