We study the design of efficient auctions where bidders have interdependent values, that depend on signals of other bidders. In particular, we consider a contingent bid model in which bidders may explicitly condition the value of their bids on the bids submitted by others. We derive constraints which allows the efficient second price, fixed point auction to be implemented in single-minded CAs, and present an alternative mechanism for cases in which the required single crossing condition fails.
|Publication status||Published - Nov 2015|
|Event||INFORMS (Institute for Operations Research and the Management Sciences) Annual Meeting 2015 - Pennsylvania, Philadelphia, United States|
Duration: 1 Nov 2015 → 4 Nov 2015
|Conference||INFORMS (Institute for Operations Research and the Management Sciences) Annual Meeting 2015|
|Period||1/11/15 → 4/11/15|
Robu, V., Ito, T., Jennings, N. R., & Parkes, D. C. (2015). Efficient Interdependent Value Combinatorial Auctions with Single Minded Bidders. Abstract from INFORMS (Institute for Operations Research and the Management Sciences) Annual Meeting 2015, Philadelphia, United States. https://informs.emeetingsonline.com/emeetings/formbuilder/clustersessiondtl.asp?csnno=23431&mmnno=272&ppnno=89872