2017

Pro-Competitive Rationing in Multi-Unit Auctions

Reprint No. 2017:55

Author(s): Pär HolmbergYear: 2017 Title: Economic Journal Volume (No.): 127 (605) Pages: 372–395
Online article (restrictions may apply)
Preliminary version


In multi-unit auctions, it is necessary to specify rationing rules to break ties between multiple marginal bids. The standard approach is to ration marginal bids proportionally. This article shows how bidding can be made more competitive – and the auctioneer can increase his surplus – if the rationing rule instead gives increasing priority to bidders with a small volume of marginal bids at clearing prices closer to the reservation price. As compared to standard rationing, such a rule can, in beneficial circumstances, have almost the same effect on the competitiveness of bids as a doubling of the number of bidders.


Reference:
Holmberg, Pär (2017), "Pro-Competitive Rationing in Multi-Unit Auctions". Economic Journal 127(605), 372–395.

Pär Holmberg

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Integrating Immigrants into the Nordic Labour Markets

An Overall Perspective

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Denmark, Finland, Norway and Sweden face similar problems of integrating large groups of immigrants, especially low-educated ones from outside the EU, into their labour markets. In this volume, edited by Lars Calmfors, IFN, and Nora Sánchez Gassen in cooperation with researchers from across the Nordic Region analyse how labour market integration of immigrants can be promoted. 

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