Author : Mete Ahunbay
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Book Synopsis Equilibria and Efficiency of Sequential Multiunit Auctions by : Mete Ahunbay
Download or read book Equilibria and Efficiency of Sequential Multiunit Auctions written by Mete Ahunbay and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "We study the equilibrium and efficiency of sequential multiunit auctions with complete information, both under no constraints on buyers' bidding strategies and when buyers are constrained to not bid above their valuation for an additional item in each individual auction. When buyers may not overbid we give a complete characterisation of the equilibrium of the auction when only two buyers are present and show that efficiency of an outcome allocation is at least (1-1/e) with respect to welfare. When buyers may overbid and two buyers are present we restore the (1-1/e) efficiency result of (Bae et al. 2008, 2009). We also inspect the setting when arbitrarily many buyers are present, showing conditional constant-factor efficiency results"--