Groves sealed bid auctions of heterogeneous objects with fair prices

Szilvia Pápai ()

Social Choice and Welfare, 2003, vol. 20, issue 3, 385 pages

Abstract: We study the allocation of heterogeneous indivisible objects to agents whose valuations of the objects depend on what other objects they are obtained with. We apply the envyfree criterion to Groves sealed bid auctions, which are value maximizing and dominant strategy incentive compatible for this multi-object allocation problem. First we show that if valuations are unrestricted then there is no Groves auction which ensures that the allocation is always envyfree. We obtain a positive result, however, if the valuations of the objects are superadditive, and give a complete characterization of Groves prices that guarantee envyfreeness for superadditive valuations. Copyright Springer-Verlag Berlin Heidelberg 2003

Date: 2003
References: Add references at CitEc
Citations: View citations in EconPapers (31)

Downloads: (external link)
http://hdl.handle.net/10.1007/s003550200185 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sochwe:v:20:y:2003:i:3:p:371-385

Ordering information: This journal article can be ordered from
http://www.springer. ... c+theory/journal/355

DOI: 10.1007/s003550200185

Access Statistics for this article

Social Choice and Welfare is currently edited by Bhaskar Dutta, Marc Fleurbaey, Elizabeth Maggie Penn and Clemens Puppe

More articles in Social Choice and Welfare from Springer, The Society for Social Choice and Welfare Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().