Auctioning Many Divisible Goods
We study the theory and practical implementation of auctioning many divisible goods. With multiple related goods, price discovery is important not only to reduce the winner’s curse, but more importantly, to simplify the bidder’s decision problem and to facilitate the revelation of preferences in the bids. Simultaneous clock auctions are especially desirable formats for auctioning many divisible goods. We examine the properties of these auctions and discuss important practical considerations in applying them.
|Date of creation:||2004|
|Date of revision:||2004|
|Publication status:||Published in Journal of the European Economic Association, 2, 480-493, April-May 2004.|
|Contact details of provider:|| Postal: |
Phone: (202) 318-0520
Fax: (202) 318-0520
Web page: http://www.cramton.umd.edu
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Milgrom,Paul, 2004.
"Putting Auction Theory to Work,"
Cambridge University Press, number 9780521536721.
- William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, 03.
- repec:oup:restud:v:81:y:2014:i:4:p:1366-1400 is not listed on IDEAS
- Peter Cramton & Jesse Schwartz, 2000.
"Collusive Bidding in the FCC Spectrum Auctions,"
Econometric Society World Congress 2000 Contributed Papers
1210, Econometric Society.
- Lawrence M. Ausubel & Peter Cramton, 1995.
"Demand Reduction and Inefficiency in Multi-Unit Auctions,"
Papers of Peter Cramton
98wpdr, University of Maryland, Department of Economics - Peter Cramton, revised 22 Jul 2002.
- Paul R. Milgrom, 1985. "Auction Theory," Cowles Foundation Discussion Papers 779, Cowles Foundation for Research in Economics, Yale University.
- Lawrence M. Ausubel & Peter Cramton & Wynne P. Jones, 2012. "System and Method for an Auction of Multiple Types of Items," Papers of Peter Cramton 11acjam, University of Maryland, Department of Economics - Peter Cramton, revised 2012.
- Lawrence Ausubel & Peter Cramton, 2004.
"Vickrey auctions with reserve pricing,"
Springer, vol. 23(3), pages 493-505, March.
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