New auction design boosts fairness and efficiency for multiunit goods!
The article explores how to design efficient auctions for selling multiple items when bidders have different preferences and values. The traditional Vickrey auction may not work well in this scenario, but the researchers found a way to create a new mechanism that keeps the auction fair and efficient. They showed that this new mechanism works best when there are two bidders with simple preferences. However, they also discovered that it's impossible to create a perfect auction when bidders have more complex preferences.