Question
Consider a combinatorial auction in which bidders can submit multiple bids under different names, unbeknownst to the mechanism. The allocation and payment of a bidder
Consider a combinatorial auction in which bidders can submit multiple bids under different names, unbeknownst to the mechanism. The allocation and payment of a bidder is the union and sum of the allocation and payments, respectively, assigned to all pseudonyms
a) Exhibit a combinatorial auction and bidder evaluation such that in the VCG mechanism, there is a bidder who can earn higher utility by submitting multiple bids than by bidding truthfully as a single agent (assuming other bid truthfully)
b) Can this ever happen in a second price single item auction?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Here is the corrected and detailed answer to the given question Question Consider a combinatorial auction in which bidders can submit multiple bids under different names unbeknownst to the mechanism T...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started