MECHANISM DESIGN FOR OPTIMAL AUCTION OF DIVISIBLE GOODS

Congjun Rao () and Yong Zhao ()
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Congjun Rao: Institute of Systems Engineering, Huazhong University of Science and Technology, Wuhan 430074, P.R. China;
Yong Zhao: Institute of Systems Engineering, Huazhong University of Science and Technology, Wuhan 430074, P.R. China

International Journal of Information Technology & Decision Making (IJITDM), 2010, vol. 09, issue 05, 831-845

Abstract: In this paper, the auction of divisible goods is investigated and a mechanism design method for optimal auction of divisible goods is presented. First, the definitions of feasible allocations and divisible goods auctions are given based on several important assumptions of divisible goods auction. Second, an optimal auction mechanism of divisible goods is designed, and a method of how to use the uniform price auction to implement the optimal auctions is discussed under the background of allocating the total permitted pollution discharge capacity (TPPDC). Lastly, this method is applied to the environmental planning of Wuhan City Circle in Hubei Province, China.

Keywords: Divisible goods auction; optimal auction; uniform price; allocation of TPPDC (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (1)

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DOI: 10.1142/S0219622010004044

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