Dynamic Marginal Contribution Mechanism
We develop the marginal contribution mechanism in detail for a sequential auction of a single object in which each bidders learn over time her true valuation of the object. We show that a modified second price auction leads to truthtelling.
|Date of creation:||2008|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/society.htm
More information through EDIRC
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.:
- Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-31, July.
- Xavier Freixas & Roger Guesnerie & Jean Tirole, 1985. "Planning under Incomplete Information and the Ratchet Effect," Review of Economic Studies, Oxford University Press, vol. 52(2), pages 173-191.
- Partha Dasgupta & Eric Maskin, 2000. "Efficient Auctions," The Quarterly Journal of Economics, Oxford University Press, vol. 115(2), pages 341-388.
- Susan Athey & Ilya Segal, 2007.
"Designing Efficient Mechanisms for Dynamic Bilateral Trading Games,"
321307000000000892, UCLA Department of Economics.
- Ilya Segal & Susan Athey, 2007. "Designing Efficient Mechanisms for Dynamic Bilateral Trading Games," American Economic Review, American Economic Association, vol. 97(2), pages 131-136, May.
- William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, 03.
- Dirk & Juuso Valimaki, 1998.
"Dynamic Common Agency,"
Cowles Foundation Discussion Papers
1206, Cowles Foundation for Research in Economics, Yale University.
- Benjamin Edelman & Michael Ostrovsky & Michael Schwarz, 2005.
"Internet Advertising and the Generalized Second Price Auction: Selling Billions of Dollars Worth of Keywords,"
NBER Working Papers
11765, National Bureau of Economic Research, Inc.
- Benjamin Edelman & Michael Ostrovsky & Michael Schwarz, 2007. "Internet Advertising and the Generalized Second-Price Auction: Selling Billions of Dollars Worth of Keywords," American Economic Review, American Economic Association, vol. 97(1), pages 242-259, March.
- Edward Clarke, 1971. "Multipart pricing of public goods," Public Choice, Springer, vol. 11(1), pages 17-33, September.
When requesting a correction, please mention this item's handle: RePEc:red:sed008:317. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Zimmermann)
If references are entirely missing, you can add them using this form.