The Ausubel-Milgrom Proxy Auction with Final Discounts
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 su cient in the original version of the proxy auctionas illustrated by an example.
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| Length: | 20 |
| Date of creation: | 2007 |
| Date of revision: | |
| Handle: | RePEc:crs:wpaper:2007-25 |
| Contact details of provider: | Postal: Phone: 01 41 17 60 81 Web page: http://www.crest.fr More information through EDIRC
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