Budget Constraints Impact on Multi Unit Auctions

نویسنده

  • Amirhossein Mehrabian
چکیده

We study multi unit auctions in presence of budget constraints. This situation is very common in real world but has not received proper attention in theoretical literature. We will study the impact of budget on the different aspects of multi unit auctions. These results try to define a frame work in which multi unit auctions with budget constraints are working and problem we are facing in designing mechanisms.

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Multi-unit Auctions with Budget Constraints

Motivated by sponsored search auctions, we study multi-unit auctions with budget constraints. In the mechanism we propose, Sort-Cut, understating budgets or values is weakly dominated. Since Sort-Cut’s revenue is increasing in budgets and values, all kinds of equilibrium deviations from true valuations turn out to be bene…cial to the auctioneer. We show that the revenue of Sort-Cut can be an or...

متن کامل

A Comparative Study of Multi-Attribute Continuous Double Auction Mechanisms

Auctions have been as a competitive method of buying and selling valuable or rare items for a long time. Single-sided auctions in which participants negotiate on a single attribute (e.g. price) are very popular. Double auctions and negotiation on multiple attributes create more advantages compared to single-sided and single-attribute auctions. Nonetheless, this adds the complexity of the auctio...

متن کامل

Models for Budget Constrained Auctions: an Application to Sponsored Search & Other Auctions

Title of dissertation: MODELS FOR BUDGET CONSTRAINED AUCTIONS: AN APPLICATION TO SPONSORED SEARCH & OTHER AUCTIONS Abhishek Pani, Doctor of Philosophy, 2010 Dissertation directed by: Professor Subramanian Raghavan Robert H. Smith School of Business The last decade has seen the emergence of auction mechanisms for pricing and allocating goods on the Internet. A successful application area for auc...

متن کامل

Towards agents participating in realistic multi-unit sealed-bid auctions

When autonomous agents decide on their bidding strategies in real world auctions, they have a number of concerns that go beyond the models that are normally analyzed in traditional auction theory. Oftentimes, the agents have budget constraints and the auctions have a reserve price, both of which restrict the bids the agents can place. In addition, their attitude need not be risk-neutral and the...

متن کامل

Overbidding and inefficiencies in multi-unit Vickrey auctions for normal goods

I examine bid behavior in uniform-price auctions and multi-unit Vickrey auctions, without the standard quasilinearity restriction on bidder preferences. Instead of assuming quasilinearity, I assume that bidders have weakly positive wealth effects, i.e. the goods are normal goods. My setting nests quasilinearity, but also allows for budget constraints, financial constraints, and risk aversion. I...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2009