Equity in auction design with unit-demand agents and non-quasilinear preferences

Tomoya Kazumura, Debasis Mishra and Shigehiro Serizawa

ISER Discussion Paper from Institute of Social and Economic Research, The University of Osaka

Abstract: We study a model of auction design where a seller is selling a set of objects to a set of agents who can be assigned no more than one object. Each agent’s preference over (object, payment) pair need not be quasilinear. If the domain contains all classical preferences, we show that there is a unique mechanism, the minimum Walrasian equilibrium price (MWEP) mechanism, which is strategy-proof, individually rational, and satisfies equal treatment of equals, no-wastage (every object is allocated to some agent), and no-subsidy (no agent is subsidized). This provides an equity-based characterization of the MEWP mechanism, and complements the efficiency-based characterization of the MWEP mechanism known in the literature.

Date: 2026-02
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