Simultaneous ascending auctions present agents with various strategic problems, depending on preference structure. As long as bids represent non-repudiable offers, submitting noncontingent bids to separate auctions entails an exposure problem: bidding to acquire a bundle risks the possibility of...

Computer automation has the potential, just starting to be realized, of transforming thedesign and operation of markets, and the behaviors of agents trading in them. We discussthe possibilities for automating markets, presenting a broad conceptual frameworkcovering resource allocation as well as...