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In a market of indivisible objects where a buyer consumes at most one object, the buyer-optimal auction is a multi-item generalization of Vickrey's second-price auction. If the optimal auction is formulated as a strategic game, it is well-known that it satisfies good incentive properties, i.e.,...
Persistent link: https://www.econbiz.de/10005155674
We consider repeated games with complete information and imperfect monitoring, where each player is assigned a fixed subset of players and only observes the moves chosen by the players in this subset. This structure is naturally represented by a directed graph. We prove that a generalized folk...
Persistent link: https://www.econbiz.de/10005755643