Article ID: | iaor20123243 |
Volume: | 220 |
Issue: | 2 |
Start Page Number: | 577 |
End Page Number: | 587 |
Publication Date: | Jul 2012 |
Journal: | European Journal of Operational Research |
Authors: | Mller Rudolf, Vermeulen Dries, Grigorieva Elena, Jean-Jacques Herings P |
Keywords: | game theory |
This paper studies the sales of a single indivisible object where bidders have continuous valuations. In Grigorieva et al. it was shown that, in this setting, query auctions necessarily allocate inefficiently in equilibrium. In this paper we propose a new sequential auction, called the