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.
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