The standard revenue-maximizing auction discriminates against a priori stronger bidders so as to reduce their information rents. We show that such discrimination is no longer optimal when the auction's winner may resell to another bidder, and the auctioneer has non-Bayesian uncertainty about...

The standard profit-maximizing multi-unit auction can be represented as the Vickrey-Groves-Clarke mechanism in which the seller manipulates his reservation supply curve. The optimal supply curve depends on the distribution from which the buyers' valuations are drawn. However, when this...

Mechanism design is a subfield of game theory that aims to design games whose equilibria have desired properties such as achieving high efficiency or high revenue. Algorithmic mechanism design is a subfield that lies on the border of mechanism design and computer science and deals with mechanism...