The communication complexity of private value single-item auctions

This paper is concerned with information revelation in single-item auctions. We compute how much data needs to be transmitted in three strategically equivalent auctions--the Vickrey auction, the English auction and the recently proposed bisection auction--and show that in the truth-telling equilibrium the bisection auction is the best performer.

• Type: Journal
• Year: 2006
• Where: ORL
• Authors: Elena Grigorieva, P. Jean-Jacques Herings, Rudolf Müller, Dries Vermeulen
• Keywords: Auction, Bisection Auction, ORL 2006, Vickrey Auction