Two-Phase Multi-Unit Auction Design

摘要：

The two-phase multi-unit auction is a practical means for auctioning many units, a private values clock phase is followed by a static interdependent values auction phase. We have added a closing auction for its traded interdependent values to improve the price discovery process. The highest execution principle is used in the second phase. Truth telling will be given priority in the auction mechanism. By predicting the demand of next clock period, we combine the private values clock auction and static interdependent values auction together, so as to use linear price as long as possible, achieve the effect of transparent price discovery and quick allocation in the private values clock phase and the efficiency of static interdependent values auction phase.

关键词： clock auction market design auction mechanism price discovery allocation efficiency

作者: Lanbo Miao Jiafu Tang

作者单位: Dept of Systems Engineering, College of Information Science & Engineering,Northeastern University, S Dept of Systems Engineering, College of Information Science & Engineering,Northeastern University, S

会议类型: 国际会议

会议名称: 2010 International Conference on Management of e-Commerce and e-Government(第四届电子商务与电子政务管理国际会议 ICMeCG 2010)

会议地点: 成都

会议语种:英文

页码: 160-163

在线出版日期: 2010-10-23（万方平台首次上网日期，不代表论文的发表时间）