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Mechanisms for combinatorial auctions with budget constraints

Phuong Le ()
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Phuong Le: Stanford University

Review of Economic Design, 2017, vol. 21, issue 1, 1-31

Abstract: Abstract This paper studies combinatorial auctions with budget-constrained bidders from a mechanism design perspective. I search for mechanisms that are incentive compatible, individually rational, symmetric, non-wasteful and non-bossy. First focusing on the greedy domain, in which any increase in a bidder’s valuation always exceeds his budget, I derive the unique mechanism, called the Iterative Second Price Auction. For the general domain, however, no such mechanism exists.

Keywords: Combinatorial auctions; Budget constraints; Mechanisms (search for similar items in EconPapers)
JEL-codes: D44 D82 (search for similar items in EconPapers)
Date: 2017
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