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This paper provides a characterization of dominant strategy mechanisms with quasi-linear utilities and multi-dimensional types for a variety of preference domains. These characterizations are in terms of a monotonicity property on the underlying allocation rule.
Persistent link: https://www.econbiz.de/10010266266
Government procurement and allocation programs often use subsidies and setasides favoring small businesses and other target groups to address fairness concerns. These concerns are in addition to standard objectives such as efficiency and revenue. We study the design of the optimal mechanism for...
Persistent link: https://www.econbiz.de/10010282890
We study a seller's optimal mechanism for maximizing revenue when the buyer may present evidence relevant to the buyer's value, or when different types of buyer have a differential ability to communicate. We introduce a dynamic bargaining protocol in which the buyer first makes a sequence of...
Persistent link: https://www.econbiz.de/10010286976
Many auctions involve the sale of a variety of distinct assets. Examples are airport time slots, delivery routes and furniture. Because of complimentarities (or substitution effects) between the different assets, bidders have preferences not just for particular items but for sets or bundles of...
Persistent link: https://www.econbiz.de/10012236108
Persistent link: https://www.econbiz.de/10012236109
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Persistent link: https://www.econbiz.de/10012236172
Persistent link: https://www.econbiz.de/10012236173
The property of an allocation rule to be implementable in dominant strategies by a unique payment scheme is called revenue equivalence. In this paper we give a characterization of revenue equivalence based on a graph theoretic interpretation of the incentive compatibility constraints. The...
Persistent link: https://www.econbiz.de/10010266280