We compare, experimentally, the Vickrey auction and an ascending-price auction recently introduced by Ausubel (1997). We evaluate the relative performance of both auctions in terms of efficiency and revenue in multi-unit environments where valuations either have a common-value component or are...

The main result in Daskalakis, Deckelbaum, and Tzamos (2017) establishes strong duality in the monopoly problem with an argument based on transportation theory. We provide a short, alternative proof using linear programming.

We prove some core convergence theorems for finite economies without monotone preferences or free disposal of commodities. When these assumptions are relaxed, the relationship between the continuum and the large finite economies is lost. Extra conditions are needed, in general, to obtain...