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The Ausubel-Milgrom Proxy Auction with Final Discounts

  • Laurent Lamy

    (Crest)

We slightly modify the Ausubel-Milgrom [3] Proxy Auction byadding a nal stage which possibly induces some discounts relativeto the nal accepted bids of the 'original' auction. The proxy auctionwith nal discounts is such that the outcome is a point in the bidderoptimal frontier of the Core. Then truthful reporting is an equilibriumif and only if the Vickrey outcome is in the Core, a condition that isnecessary but not sucient in the original version of the proxy auctionas illustrated by an example.

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Paper provided by Centre de Recherche en Economie et Statistique in its series Working Papers with number 2007-25.

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Length: 20
Date of creation: 2007
Date of revision:
Handle: RePEc:crs:wpaper:2007-25
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