Decision Sciences
4 years ago

New auction method ensures fair pricing and efficiency for all buyers.

SSRN Electronic Journal
Ascending Price Vickrey Auctions for General Valuations
Debasis Mishra, David C. Parkes

Paper Summary

Related papers

Decision Sciences
4 years ago

Bidding Wars Intensify as All-Pay Auctions Reshape Competitive Landscapes

Mechanism Design
Economic Behavior
Public Finance
3 views
Decision Sciences
4 years ago

Procurement Auctions Boost Efficiency and Fairness for Buyers and Suppliers

Mechanism Design
Economic Behavior
Public Procurement
3 views
Decision Sciences
4 years ago

Auctions with Private and Common Values Boost Seller Revenues and Efficiency

Mechanism Design
Economic Analysis
Economic Behavior
3 views

Ascending price auctions can achieve the VCG outcome for general valuations by offering discounts to buyers from the final price. This allows for truthful bidding by buyers, resulting in the VCG outcome and efficiency in combinatorial auctions.