Title

An Example of a Multi-Object Auction Game

Document Type

Discussion Paper

Publication Date

9-1-1978

CFDP Number

494

CFDP Pages

11

Abstract

Multi-object auctions are traditionally analyzed as if they were a number of simultaneous independent single object auctions. Such an approximation may be very crude if bidders have budget restrictions, capacity constraints, or, in general, have non-linear utility functions. This paper presents a very simple multi-object auction for which explicit equilibrium strategies can be calculated; these equilibrium strategies have several qualitative characteristics arising from the multi-object nature of the example and therefore not present in typical single object auctions.

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