NDLI: Bisection auctions

Content Provider	ACM Digital Library
Author	Müller, Rudolf Vermeulen, Dries Herings, P. Jean-Jacques
Abstract	In this note we give a survey of bisection auctions. Bisection auctions have been introduced in order to reduce the number of rounds and increase privacy of information in iterative implementations of Vickrey auctions. First, we present the case of discrete valuations. we discuss the strategic properties of this auction and recent results which show that--for 2 bidders--the auction dominates in a particular sense any other auction with respect to the number of bits revealed. For the case of continuous valuations we contrast its properties with the result that no practical query auction can achieve full efficiency in ex-post equilibrium.
Starting Page	1
Ending Page	5
Page Count	5
File Format	PDF
ISSN	15519031
DOI	10.1145/1598780.1598786
Journal	ACM SIGecom Exchanges (SECO)
Volume Number	8
Issue Number	1
Language	English
Publisher	Association for Computing Machinery (ACM)
Publisher Date	2003-03-01
Publisher Place	New York
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Economics Algorithms Bid increments Auctions Communication complexity
Content Type	Text
Resource Type	Article

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Bisection auctions