The Second-Price Auction Solves King Solomon's Dilemma
The Second-Price Auction Solves King Solomon's Dilemma
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二价拍卖解决了所罗门王的困境
DOI:
10.2139/ssrn.926634
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发表时间:
2006
期刊:
影响因子:
--
通讯作者:
H. R. Mihara
中科院分区:
文献类型:
--
作者:
H. R. Mihara
Consider the problem of allocating k identical, indivisible objects among n agents, where k is less than n. The planner's objective is to give the objects to the top k valuation agents at zero costs to the planner and the agents. Each agent knows the identity of those k agents, as well as her own valuation of the object. Modify the (k+1)st-price sealed-bid auction by introducing a small participation fee and the option (not) to participate in it. This strikingly simple mechanism (modified auction) implements the desired outcome in iteratively weakly undominated strategies.