Engineering and Applied Sciences

Engineering and Applied Sciences

Engineering and Applied Sciences

Engineering and Applied Sciences

Activity rules have emerged in recent years as an important aspect of practical auction design. The role of an activity rule in an iterative auction is to suppress strategic behavior by bidders and promote simple, continual, meaningful bidding and thus, price discovery. These rules find...

Descending price auctions are adopted for goods that must be sold quickly and in private values environments, for instance in flower, fish, and tobacco auctions. In this paper, we introduce ex post efficient descending auctions for two environments: multiple non-identical items and buyers with...

Ascending price auctions typically involve a single price path with buyers paying their final bid price. Using this traditional definition, no ascending price auction can achieve the Vickrey-Clarke-Groves (VCG) outcome for general private valuations in the combinatorial auction setting. We relax...

Descending price auctions are adopted for goods that must be sold quickly and in private values environments, for instance in flower, fish, and tobacco auctions. In this paper, we introduce efficient descending auctions for two environments: multiple non-identical items and buyers with...