Perry, Motty; Reny, Philip J. - In: Review of Economic Studies 72 (2005) 2, pp. 567-592
We provide an ascending auction that yields an efficient outcome when there are many identical units for sale and bidders have interdependent values and downward-sloping demand. Our ascending auction both extends and generalizes Ausubel's (2004) and yields the same outcome as Perry and Reny's...