Core-selecting package auctions: a comment on revenue-monotonicity
Journal article: Day and Milgrom (Int J Game Theory 36:393-407, 2008) argue that package auctions that select the seller's minimum revenue in the Core are revenue-monotone. We show that no bidder-optimal Core-selecting auction can satisfy revenue-monotonicity for general preferences when there are at least three goods for sale, while the property holds for any bidder-optimal Core-selecting auction in environments with only two goods or if the characteristic function is submodular.
Author(s)
Laurent Lamy
Journal
- International Journal of Game Theory
Date of publication
- 2010
Keywords JEL
Keywords
- Core
- Auctions
- Core-selection auctions
- Package bidding
- Combinatorial bidding
Pages
- 503-510
URL of the HAL notice
Version
- 1
Volume
- 39