, which creates an exposure problem for global bidders - when competing aggressively for a package, a global bidder may incur … exposure problem on revenue and efficiency, and compare its performance to that of the benchmark Vickrey-Clarke-Groves (VCG … properties: due to the exposure problem, the SAA may result in non-core outcomes where local bidders obtain items at very low …

' valuation functions are convex. For this environment we show that a global bidder faces an exposure problem with adverse … combines substitutes and complements, results in an aggravated exposure problem. Consequently, the SAA is no longer efficient …

Multi-unit auctions are sometimes plagued by the so-called exposure problem. In this paper, we analyze a simple game … called the ‘chopstick auction’ in which bidders are confronted with the exposure problem. We do so both in theory and in a …-price sealed-bid auction in which the exposure problem is not present. In the experiment, however, we find that the chopstick …

prices without relying on any central mediator. Hence a multi-item bidder does not suffer the exposure problem of having to …

Multi-unit auctions are sometimes plagued by the so-called exposure problem. In this paper, we analyze a simple game … called the 'chopstick auction' in which bidders are confronted with the exposure problem. We analyze the chopstick auction … efficient equilibrium and is revenue equivalent with the second-price sealed-bid auction in which the exposure problem is not …

Multi-unit auctions are sometimes plagued by the so-called exposure problem. In this paper, we analyze a simple game … called the ‘chopstick auction’ in which bidders are confronted with the exposure problem. We analyze the chopstick auction … efficient equilibrium and is revenue equivalent with the second-price sealed-bid auction in which the exposure problem is not …

Multi-unit auctions are sometimes plagued by the so-called exposure problem. In this paper, we analyze a simple game … called the chopstick auction' in which bidders are confronted with the exposure problem. We analyze the chopstick auction … efficient equilibrium and is revenue equivalent with the second-price sealed-bid auction in which the exposure problem is not …