This paper studies the sales of a single indivisible object where bidders have continuous valuations. In Grigorieva et al. [13] it was shown that, in this setting, query auctions necessarily allocate ineffciently in equilibrium. In this paper we propose a new sequential auction, called the...

We consider financial networks where agents are linked to each other with financial contracts. A centralized clearing mechanism collects the initial endowments, the liabilities and the division rules of the agents and determines the payments to be made. A division rule specifies how the assets...