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Note on Optimal Auctions

  • Nicolás Figueroa
  • Vasiliki Skreta


This paper considers a general optimal auction problem, with many goods and with a buyer’s utility that can depend non-linearly in his type. We point out that incentive compatibility constraints may be binding even if virtual utilities are strictly increasing in the buyer’s type. More importantly, optimal mechanisms may involve randomizations between different allocations.

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Paper provided by Centro de Economía Aplicada, Universidad de Chile in its series Documentos de Trabajo with number 232.

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Date of creation: 2007
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Handle: RePEc:edj:ceauch:232
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  1. Thanassoulis, John, 2004. "Haggling over substitutes," Journal of Economic Theory, Elsevier, vol. 117(2), pages 217-245, August.
  2. John G. Riley & William Samuelson, 1979. "Optimal Auctions," UCLA Economics Working Papers 152, UCLA Department of Economics.
  3. Lollivier, Stefan & Rochet, Jean-Charles, 1983. "Bunching and second-order conditions: A note on optimal tax theory," Journal of Economic Theory, Elsevier, vol. 31(2), pages 392-400, December.
  4. Nicolás Figueroa & Vasiliki Skreta, 2007. "The Role of Outside Options in Auction Design," Documentos de Trabajo 231, Centro de Economía Aplicada, Universidad de Chile.
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