Clinching auctions with online supply

Gagan Goel, Vahab Mirrokni and Renato Paes Leme

Games and Economic Behavior, 2020, vol. 123, issue C, 342-358

Abstract: Auctions for perishable goods such as Internet ad inventory need to make real-time allocation and pricing decisions as the supply of the good arrives in an online manner, without knowing the entire supply in advance. In this work, we consider a multi-unit model where buyers have global budget constraints, and the supply arrives in an online manner. Our main contribution is to show that for this setting there is an individually-rational, incentive-compatible and Pareto-optimal auction that allocates these units and calculates prices on the fly, without knowledge of the total supply. We do so by showing that the Adaptive Clinching Auction satisfies a supply-monotonicity property.

Keywords: Auction design; Online allocation; Online supply (search for similar items in EconPapers)
JEL-codes: D4 D44 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:123:y:2020:i:c:p:342-358

DOI: 10.1016/j.geb.2015.11.008

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