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- W1507429105 abstract "Motivated by sponsored search auctions, we study multi-unit auctions with budget constraints. In the mechanism we propose, Sort-Cut, understating budgets or values is weakly dominated. Since Sort-Cut's revenue is increasing in budgets and values, all kinds of equilibrium deviations from true valuations turn out to be beneficial to the auctioneer. We show that the revenue of Sort-Cut can be an order of magnitude greater than that of the natural Market Clearing Price mechanism, and we discuss the efficiency properties of its ex-post Nash equilibrium." @default.
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- W1507429105 date "2011-01-01" @default.
- W1507429105 modified "2023-10-18" @default.
- W1507429105 title "Multi-Unit Auctions with Budget Constraints" @default.
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- W1507429105 doi "https://doi.org/10.2139/ssrn.1806069" @default.
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