| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5072176 | Games and Economic Behavior | 2012 | 18 Pages |
Abstract
⺠We study multi-unit auctions for bidders with a budget constraint. We show: ⺠Any truthful and IR auction with no positive transfers cannot be Pareto optimal. ⺠However, the “clinching auction” satisfies all these properties with public budgets. ⺠Moreover, it is the unique such auction when there are two players.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Shahar Dobzinski, Ron Lavi, Noam Nisan,