This contribution revisits the problem of allocating R&D subsidies by government agencies. Typically, the applicants’ financial constraints are private information. The literature has recommended the use of auctions in order to reduce information rents and thus improve the efficiency of how...

A budget-constrained buyer wants to purchase items from a shortlisted set. Items are differentiated by observable quality and sellers have private reserve prices for their items. Sellers quote prices strategically, inducing a knapsack game. The buyer's problem is to select a subset of maximal...

We present a new dynamic auction for procurement problems where payments are bounded by a hard budget constraint and money does not enter the procurer's objective function.

We present a new dynamic auction for procurement problems where payments are bounded by a hard budget constraint and money does not enter the procurer's objective function.