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Multi-unit auction format design

โœ Scribed by Atakelty Hailu; Sophie Thoyer

Publisher
Springer-Verlag
Year
2006
Tongue
English
Weight
210 KB
Volume
1
Category
Article
ISSN
1860-711X

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## Abstract We construct a model of participation and bidding at multiโ€unit, sequential, clock auctions when bidders have multiโ€unit demand. We describe conditions sufficient to characterize a symmetric, perfectโ€Bayesian equilibrium and then demonstrate that this equilibrium induces an efficient al