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Article Dans Une Revue Games and Economic Behavior Année : 2012

Smooth multibidding mechanisms

Résumé

We propose a smooth multibidding mechanism for environments where a group of agents have to choose one out of several projects. Our proposal is related to the multibidding mechanism (Pérez-Castrillo and Wettstein, 2002) but it is “smoother” in the sense that small variations in an agentʼs bids do not lead to dramatic changes in the probability of selecting a project. This mechanism is shown to possess several interesting properties. First, the equilibrium outcome is unique. Second, it ensures an equal sharing of the surplus that it induces. Finally, it enables reaching an outcome as close to efficiency as is desired.

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Dates et versions

hal-02643466 , version 1 (28-05-2020)

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David Pérez-Castrillo, Nicolas Quérou. Smooth multibidding mechanisms. Games and Economic Behavior, 2012, 76 (2), pp.420-438. ⟨10.1016/j.geb.2012.07.003⟩. ⟨hal-02643466⟩
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