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URL :  Flexible double auctions for electronic commerce
Author : P. R. Wurman - W. E. Walsh - M. P. Wellman
Detail : Last eBook Edition: 2001

We consider a general family of auction mechanisms that admit multiple buyers and sellers, and determine market-clearing prices. We analyze the economic incentives facing participants in such auctions, demonstrating that, under some conditions, it is possible to induce truthful revelation of values by buyers or sellers, but not both, and for single- but not multi-unit bids. We also perform a computational analysis of the auctioneer’s task, exhibiting efficient algorithms for processing bids and calculating allocations.(From Author)

eBook Contents
Abstract – Introduction - Auction design - Mth-price and (MH1)st-price rules - Incentive compatibility analysis – Implementation – Conclusion – Acknowledgements - References

eBook License: Copyrighted (Personal Use Only)

Free PDF eBook - 201 Kb - 11 Pages
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