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Multi-Item Auctions

Gabrielle Demange¹; David Gale²; Marilda Sotomayor

¹ École Polytechnique · ² Department of Economics

A collection of items is to be distributed among several bidders, and each bidder is to receive at most one item. Assuming that the bidders place some monetary value on each of the items, it has been shown that there is a unique vector of equilibrium prices that is optimal, in a suitable sense, for the bidders. In this paper we describe two dynamic auction mechanisms: one achieves this equilibrium and the other approximates it to any desired degree of accuracy.

DOI

10.1086/261411

Volume

94 (4)

Pages

863-872

Language

en

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BibTeX

Sources

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