Ranked Items Auctions

摘要

We study ranked items auctions where each buyer has unit demand for multiple ranked objects. This study mayrnfind applications in areas such as the sale of condominiums and Pay-Per-Click advertising in search engine business.rnWe first characterize the simultaneous pooled auction (SPA) from both the seller and the bidders' perspectives. Onernsevere problem inherent in SPA is that some bidders may incur ex post losses. We propose a tailored VCG mechanismrnthat generates the same expected revenue as SPA does, while the bidders do not incur any losses.