Optimal Auction Design

@article{Myerson1981OptimalAD,
  title={Optimal Auction Design},
  author={Roger B. Myerson},
  journal={Math. Oper. Res.},
  year={1981},
  volume={6},
  pages={58-73}
}
  • R. Myerson
  • Published 1 February 1981
  • Economics
  • Math. Oper. Res.
This paper considers the problem faced by a seller who has a single object to sell to one of several possible buyers, when the seller has imperfect information about how much the buyers might be willing to pay for the object. The seller's problem is to design an auction game which has a Nash equilibrium giving him the highest possible expected utility. Optimal auctions are derived in this paper for a wide class of auction design problems. 
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This paper represents a continuation of three previous papers [1-.3] in the study of competitive bidding processes. It treats the case where a bidder's knowledge of his competitor's cost i s given by…
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Parts I and II of this paper have described a new theory for the analysis of games with incomplete information. Two cases have been distinguished: consistent games in which there exists some basic…
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Counterspeculation, Auctions, And Competitive Sealed Tenders
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Convex Analysisの二,三の進展について
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