The Ausubel-Milgrom Proxy Auction with Final Discounts
We slightly modify the Ausubel-Milgrom  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.
|Date of creation:||2007|
|Date of revision:|
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