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Multi-Item Auctions

Author

Listed:
  • Gabrielle Demange

    (CECO - Laboratoire d'économétrie de l'École polytechnique - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - CNRS - Centre National de la Recherche Scientifique)

  • Gale David

    (Department of Economics [Berkeley] - UC Berkeley - University of California [Berkeley] - UC - University of California)

  • Marilda Sotomayor

    (PUC-Rio - Pontifícia Universidade Católica do Rio de Janeiro [Brasil] = Pontifical Catholic University of Rio de Janeiro [Brazil] = Université catholique pontificale de Rio de Janeiro [Brésil])

Abstract

A collection of items is to be distributed among several bidders, and each bidder is to receive at most one item. Assuming that the bidders place some monetary value on each of the items, it has been shown that there is a unique vector of equilibrium prices that is optimal, in a suitable sense, for the bidders. In this paper we describe two dynamic auction mechanisms: one achieves this equilibrium and the other approximates it to any desired degree of accuracy.

Suggested Citation

  • Gabrielle Demange & Gale David & Marilda Sotomayor, 1986. "Multi-Item Auctions," Post-Print halshs-00670982, HAL.
    • Handle: RePEc:hal:journl:halshs-00670982
    as

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