Loertscher, Simon (contributor); … - 2008
, linear commission fees, optimal indi-
rect mechanisms, internet auctions, auction houses.
JEL-Classification: C72, C78, L13
1 …)’s for optimal auctions: interpret the proba-
bility that ˜V ≥ v and ˜C ≤ c as quantity demanded and supplied, i.e. q …
implementation goes back to Vickrey (1961)’s analysis of second price auctions. It basically means that
it is a dominant strategy (i …