Template-type: ReDif-Paper 1.0
Author-Name: Grigorieva Elena 
Author-Name: Herings P. Jean-Jacques 
Author-Name: Müller Rudolf 
Author-Name: Vermeulen Dries 
Author-workplace-name: METEOR
Title: The family of c-bisection auctions: efficiency and running time
Abstract: In this paper we analyze the performance of a recently proposed sequential auction, called the c-bisection auction, that can be used for a sale of a single indivisible object. We discuss the running time and the e±ciency in the ex-post equilibrium of the auction. We show that by changing the parameter c of the auction we can trade o® e±ciency against running time. Moreover, we show that the auction that gives the desired level of e±ciency in expectation takes the same number of rounds for any number of players.
Keywords: computer science applications; 
Series: Research Memoranda
Creation-Date: 2006
Number: 019
File-URL: http://digitalarchive.maastrichtuniversity.nl/fedora/objects/guid:4f06ca3a-73cc-4c3d-87d6-f066bc0882b3/datastreams/ASSET1/content
File-Format: application/pdf
File-Size: 327728
Handle: RePEc:unm:umamet:2006019