Core-selecting package auctions

  title={Core-selecting package auctions},
  author={Robert W. Day and Paul R. Milgrom},
  journal={International Journal of Game Theory},
Auctions that select core allocations with respect to reported values generate competitive levels of sales revenues at equilibrium and limit bidder incentives to use shills. Among core-selecting auctions, the ones that minimize seller revenues also maximize incentives for truthful reporting, produce the Vickrey outcome when that lies in the core and, in contrast to the Vickrey auction, and create no incentive for a seller to exclude qualified bidders. Core-selecting auctions are related to and… 

1 Optimal Incentives in Core-Selecting Auctions 1

Optimal Incentives in Core-Selecting Auctions Robert Day, School of Business, University of Connecticut Paul Milgrom, Dept of Economics, Stanford University August 25, 2010 Auctions that select core

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  • L. Lamy
  • Economics
    Int. J. Game Theory
  • 2010
It is shown that no bidder-optimal Core-selecting auction can satisfy revenue-monotonicity for general preferences when there are at least three goods for sale, while the property holds for any bidder- optimize Core- selecting auction in environments with only two goods or if the characteristic function is submodular.

Core-selecting auctions with incomplete information

It is shown that seller revenues and efficiency from core-selecting auctions can improve as correlations among bidders’ values increase, producing outcomes that are closer to the true core than are the VCG outcomes.

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  • L. Lamy
  • Economics
    Games Econ. Behav.
  • 2012

An equilibrium analysis of a core-selecting package auction with reserve prices

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Abstract A family of ascending package auction models is introduced in which bidders may determine their own packages on which to bid. In the proxy auction (revelation game) versions, the outcome is

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In many examples of competitive bidding (e.g., government construction contracting) the relevant object is either partially divisible or ill-defined, in contrast to much of the recent theoretical

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The effect of false-name bids in combinatorial auctions: new fraud in internet auctions

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  • A. Roth
  • Economics
    Math. Oper. Res.
  • 1982
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Job Matching, Coalition Formation, and Gross Substitutes

Competitive adjustment processes in labor markets with perfect information but heterogeneous firms and workers are studied. Generalizing results of Shapley and Shubik [7], and of Crawford and Knoer