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The Ausubel-Milgrom Proxy Auction with Final Discounts

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  • Laurent Lamy

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Abstract

We slightly modify the Ausubel-Milgrom [3] Proxy Auction byadding a final stage which possibly induces some discounts relativeto the final accepted bids of the 'original' auction. The proxy auctionwith final 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 sufficient in the original version of the proxy auctionas illustrated by an example.

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  • Laurent Lamy, 2007. "The Ausubel-Milgrom Proxy Auction with Final Discounts," Working Papers 2007-25, Center for Research in Economics and Statistics.
    • Handle: RePEc:crs:wpaper:2007-25
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    References listed on IDEAS

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    1. de Vries, Sven & Schummer, James & Vohra, Rakesh V., 2007. "On ascending Vickrey auctions for heterogeneous objects," Journal of Economic Theory, Elsevier, vol. 132(1), pages 95-118, January.
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    Cited by:

    1. Laurent Lamy, 2007. "Contingent Auctions with Allocative Externalities : Vickrey Versus the Ausubel-Milgrom Proxy Auction," Working Papers 2007-26, Center for Research in Economics and Statistics.
    2. Laurent Lamy, 2007. "Contingent Auctions with Allocative Externalities: Vickrey vs. the Ausubel-Milgrom Proxy Auction," 2007 Meeting Papers 427, Society for Economic Dynamics.
    3. Rieck, Thomas, 2009. "Ascending combinatorial scoring auctions," Bonn Econ Discussion Papers 7/2009, University of Bonn, Bonn Graduate School of Economics (BGSE).
    4. Sano, Ryuji, 2011. "Incentives in core-selecting auctions with single-minded bidders," Games and Economic Behavior, Elsevier, vol. 72(2), pages 602-606, June.

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