The communication complexity of private value single-item auctions

The communication complexity of private value single-item auctions

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Article ID: iaor2007509
Country: Netherlands
Volume: 34
Issue: 5
Start Page Number: 491
End Page Number: 498
Publication Date: Sep 2006
Journal: Operations Research Letters
Authors: , , ,
Keywords: communication
Abstract:

This paper is concerned with information revelation in single-item auctions. We compute how much data needs to be transmitted in three strategically equivalent auctions – the Vickrey auction, the English auction and the recently proposed bisection auction – and show that in the truth-telling equilibrium the bisection auction is the best performer.

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