Decision Sciences
4 years ago

Dynamic auction guarantees fair item allocation despite budget constraints.

SSRN Electronic Journal
An Efficient Multi-Item Dynamic Auction with Budget Constrained Bidders
Dolf Talman, Zaifu Yang

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A new auction method was created to sell multiple items to buyers with limited budgets. This method ensures a fair distribution of items and prices, even when buyers can't afford their full value. The auction guarantees a successful allocation of items and prices in a limited number of rounds.