A New Analysis of Expected Revenue

摘要: We address the fundamental issue of revenue and efficiency in combinatorial simultaneous auction using a novel approach. Specifically, upper lower bounds are constructed for first-price sealed-bid setting these two auctions. The question is important yet very few results can be found literature. Only small instances with 2 items have comparisons been made. Krishna et al. find that allowing bids result compared to second price auction. We formulate bound on an model where bidders synergies from winning specific set items. With bounds, we (i) prove asymptotically as number increase, will revenue-superior, (ii) present concrete examples auctions give higher expected revenue.