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The Vickrey and ascending package auctions are found to have identical equilibrium performance in the case where goods are substitutes. In the remaining cases, the Vickrey auction retains its incentiv...
William Vickrey’s (1961) inquiry into auctions and “counterspeculation” marked the first serious attempt by an economist to analyze the details of market rules and to design new rules to achieve super...
Are Dynamic Vickrey Auctions Practical?: Properties of the Combinatorial Clock Auction
Auctions Practical Clock Auction
2015/7/21
The combinatorial clock auction is becoming increasingly popular for large-scale spectrum
awards and other uses, replacing more traditional ascending or clock auctions. We describe
some surprising p...
WILLIAM VICKREY DIED ON October 11, 1996, three days after the announcement that the 1996 Bank of Sweden prize in economic sciences in memory of Alfred Nobel was being awarded to him and to Professor ...