Original title:
On the optimality of not allocating
Authors:
Hernando-Veciana, Á. ; Michelucci, Fabio Document type: Research reports
Year:
2014
Language:
eng Series:
CERGE-EI Working Paper Series, volume: 514 Abstract:
We show that the commitment to not allocate may be exploited by a seller/social planner to increase the expected social surplus that can be achieved in the sale of an indivisible unit.
Keywords:
auctions; efficiency; mechanism design