Mechanisms for Combinatorial Auctions with Budget Constraints

Phuong Le

MPRA Paper from University Library of Munich, Germany

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 D47 (search for similar items in EconPapers)
Date: 2015-07-11
New Economics Papers: this item is included in nep-ger and nep-mic
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