Multi-Unit Open Ascending Price Efficient Auction

Sergei Izmalkov ()

No 2004.91, Working Papers from Fondazione Eni Enrico Mattei

Abstract: This paper presents an open ascending price mechanism that allocates efficiently M units of the same good among N bidders with interdependent values The mechanism consists of a number of sequential English auctions with reentry and has the following attributes. In each of the individual auctions all the bidders compete simultaneously in the open ascending price format. The most distinctive feature of the mechanism is that winners are determined first, and then additional auxillary auctions are conducted to determine prices. The total number of auctions depends only on the number of goods to be allocated and not on the number of bidders.

Keywords: Multiple units; Interdependent values; Sequential auctions; Ascending price auction (search for similar items in EconPapers)
JEL-codes: C72 D44 (search for similar items in EconPapers)
Date: 2004-05
New Economics Papers: this item is included in nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:fem:femwpa:2004.91

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