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Persistent link: https://www.econbiz.de/10003783765
We design two computationally-efficient incentive-compatible mechanisms for combinatorial auctions with general bidder preferences. Both mechanisms are randomized, and are incentive-compatible in the universal sense. This is in contrast to recent previous work that only addresses the weaker...
Persistent link: https://www.econbiz.de/10005596277
In this paper we consider online auction mechanisms for the allocation of M items that are identical to each other except for the fact that they have different expiration times, and each item must be allocated before it expires. Players arrive at different times, and wish to buy one item before...
Persistent link: https://www.econbiz.de/10009450292
We study a two-sided matching market with a set of heterogeneous firms and workers in an environment where jobs are secured by regulation. Without job security Kelso and Crawford have shown that stable outcomes and efficiency prevail when all workers are gross substitutes to each firm. It turns...
Persistent link: https://www.econbiz.de/10012010061
We study Dominant-Strategy Incentive-Compatible (DSIC) revenue-maximizing auctions (“optimal” auctions) for a single-item and correlated private values. We give tight bounds on the ratio of the revenue of the optimal Ex-Post Individually Rational (EPIR) auction and the revenue of the optimal...
Persistent link: https://www.econbiz.de/10013312978
We study a two-sided matching market with a set of heterogeneous firms and workers in an environment where jobs are secured by regulation. Without job security Kelso and Crawford have shown that stable outcomes and efficiency prevail when all workers are gross substitutes to each firm. It turns...
Persistent link: https://www.econbiz.de/10014255808
We study a two-sided matching market with a set of heterogeneous firms and workers in an environment where jobs are secured by regulation. Without job security Kelso and Crawford have shown that stable outcomes and efficiency prevail when all workers are gross substitutes to each firm. It turns...
Persistent link: https://www.econbiz.de/10011704604
We performed controlled experiments of human participants in a continuous sequence of ad auctions, similar to those used by Internet companies. The goal of the research was to understand users' strategies in making bids. We studied the behavior under two auction types: (1) the Generalized...
Persistent link: https://www.econbiz.de/10011123443
Persistent link: https://www.econbiz.de/10010819806
Maximizing the revenue from selling two goods (or items) is a notoriously difficult problem, in stark contrast to the single-good case. We show that simple "one-dimensional" mechanisms, such as selling the two goods separately, guarantee at least 73% of the optimal revenue when the valuations of...
Persistent link: https://www.econbiz.de/10010813838