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Multi-unit auctions with budget limits
- In Proc. of the 49th Annual Symposium on Foundations of Computer Science (FOCS
, 2008
"... We study multi-unit auctions where the bidders have a budget constraint, a situation very common in practice that has received very little attention in the auction theory literature. Our main result is an impossibility: there are no incentive-compatible auctions that always produce a Pareto-optimal ..."
Abstract
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Cited by 20 (4 self)
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We study multi-unit auctions where the bidders have a budget constraint, a situation very common in practice that has received very little attention in the auction theory literature. Our main result is an impossibility: there are no incentive-compatible auctions that always produce a Pareto-optimal allocation. We also obtain some surprising positive results for certain special cases. 1
