Jarman, Felix; Meisner, Vincent - Abteilung für Volkswirtschaftslehre, Universität Mannheim - 2015
We consider a budget-constrained mechanism designer who wants to select an optimal subset of projects to maximize her … faces hard ex-post constraints: The participation and budget constraint must hold for each possible outcome while the … cutoff functions. These cutoff functions exhibit properties that allow an implementation through a descending clock auction …