When goods are substitutes, the Vickrey auction produces efficient, core outcomes that yield competitive seller … revenues. In contrast, with complements, the Vickrey outcome, while efficient, is not necessarily in the core and revenue can … be very low. Non-core outcomes may be perceived as unfair since there are bidders willing to pay more than the winners …

When goods are substitutes, the Vickrey outcome is in the core and yields competitive seller revenue. In contrast, with … complements, the Vickrey outcome is efficient but not necessarily in the core and revenue can be low. Non-core outcomes may be … perceived as unfair since there are bidders willing to pay more than the winners' payments. Moreover, non-core outcomes render …