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A Formal Proof of Vickrey's Theorem by Blast, Simp, and Rule

Author

Listed:
  • Manfred Kerber
  • Christoph Lange
  • Colin Rowat

Abstract

Formal methods use computers to verify proofs or even discover new theorems. Interest in applying formal methods to problems in economics has increased in the past decade, but - to date - none of this work has been published in economics journals. This paper applies formal methods to a familiar environment - Vickrey's theorem on second-price auctions - and provides, as background, an introduction to formal methods.

Suggested Citation

  • Manfred Kerber & Christoph Lange & Colin Rowat, 2014. "A Formal Proof of Vickrey's Theorem by Blast, Simp, and Rule," Discussion Papers 14-01, Department of Economics, University of Birmingham.
    • Handle: RePEc:bir:birmec:14-01
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    File URL: https://repec.cal.bham.ac.uk/pdf/14-01.pdf
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    References listed on IDEAS

    as
    1. John Geanakoplos, 2005. "Three brief proofs of Arrow’s Impossibility Theorem," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(1), pages 211-215, July.
    2. Milgrom,Paul, 2004. "Putting Auction Theory to Work," Cambridge Books, Cambridge University Press, number 9780521536721, September.
    3. Eric Maskin, 2004. "The Unity of Auction Theory: Milgrom's Masterclass," Journal of Economic Literature, American Economic Association, vol. 42(4), pages 1102-1115, December.
    4. Kotaro Suzumura, 2000. "Presidential Address: Welfare Economics Beyond Welfarist-Consequentialism," The Japanese Economic Review, Japanese Economic Association, vol. 51(1), pages 1-32, March.
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    Cited by:

    1. Kerber, Manfred & Lange, Christoph & Rowat, Colin, 2016. "An introduction to mechanized reasoning," Journal of Mathematical Economics, Elsevier, vol. 66(C), pages 26-39.

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    More about this item

    Keywords

    formal proof; mechanized reasoning; auction theory;
    All these keywords.

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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