| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5062188 | Economics Letters | 2008 | 4 Pages |
Abstract
A number of heterogeneous items are to be sold to several bidders. Each bidder demands at most one item. The price of each item is not completely flexible but restricted to some admissible interval. Due to price rigidities, a Walrasian equilibrium usually fails to exist. To facilitate the allocation of items to the bidders, we propose an efficient ascending auction with rationing that yields a constrained Walrasian equilibrium outcome in a finite number of steps.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Dolf Talman, Zaifu Yang,