Ascending price auctions typically involve a single price path with buyers paying their final bid price. Using this traditional definition, no ascending price auction can achieve the Vickrey-Clarke-Groves (VCG) outcome for general private valuations in the combinatorial auction setting. We relax...

This paper concerns the problem of valuing Bermudan swaptions in <p> a Libor market model. In particular we consider various efficiency improvement <p> techniques for a Monte Carlo based valuation method. We <p> suggest a simplification of the Andersen (2000) exercise strategy and find <p> it to be much...</p></p></p></p>