A buyer procures a network to span a given set of nodes; each seller bids to supply certain edges, then the buyer purchases a minimal cost spanning tree. An efficient tree is constructed in any equilibrium of the Bertrand game.

We study multi-unit auctions for bidders that have a budget constraint, a situation very common in practice that has received relatively little attention in the auction theory literature. Our main result is an impossibility: there is no deterministic auction that (1) is individually rational and...

This paper studies optimal auction design in a private value setting with endogenous information gathering. We develop a general framework for modeling information acquisition when a seller wants to sell an object to one of several potential buyers, who can each gather information about their...

We present the first general positive result on the construction of collusion-resistant mechanisms, that is, mechanisms that guarantee dominant strategies even when agents can form arbitrary coalitions and exchange compensations (sometimes referred to as transferable utilities or side payments)....

We analyze a simultaneous ascending auction with anonymous item prices, for two items that are substitutes. This popular format entails increased opportunities for coordination among bidders, since bids are observable and can be used as signaling. This has happened, e.g., in the Netherlands 3G...

A contract auction establishes a contract between a center and one of the bidders. As contracts may describe many terms, preferences over contracts typically display indifferences. The Qualitative Vickrey Auction (QVA) selects the best contract for the winner that is at least as good for the...

The e-mail game in Rubinstein (1989) shows that types with arbitrarily close higher-order beliefs may differ substantially in strategic behaviors. We define a notion called strategic discontinuity in arbitrary incomplete-information scenarios to generalize this e-mail game phenomenon. We show...

We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for potential applications of asymmetric unawareness. Applying our unawareness belief structures, we show that the common prior assumption is too weak to rule out...

We define generalized extensive-form games which allow for asymmetric awareness of actions. We extend Pearceʼs (1984) notion of extensive-form (correlated) rationalizability to this setting, explore its properties, and prove existence.

We study type spaces where a player's type at a state is a conditional probability on the space. We axiomatize these spaces using conditional belief operators, examining three additional axioms of increasing strength. First, introspection, which requires the agent to be unconditionally certain...