Autores
R Preston McAfee
Fecha de publicación
1992/4/1
Revista
Journal of economic Theory
Volumen
56
Número
2
Páginas
434-450
Editor
Academic Press
Descripción
A double auction mechanism that provides dominant strategies for both buyers and sellers is analyzed. This mechanism satisfies the 1 n convergence to efficiency of the buyer's bid double auction. In addition, the mechanism always produces full information first best prices; the inefficiency arises because the least valuable profitable trade may be prohibited by the mechanism. The mechanism has an oral implementation utilizing bid and asked prices.
Citas totales
Artículos de Google Académico
RP McAfee - Journal of economic Theory, 1992