On the Efficiency of Sequential Auctions for Spectrum Sharing

Download Now Free registration required

Executive Summary

In previous paper, the authors have studied the use of sequential second price auctions for sharing a wireless resource, such as bandwidth or power. The resource is assumed to be managed by a spectrum broker (auctioneer), who collects bids and allocates discrete units of the resource. It is well known that a second price auction for a single indivisible good has an efficient dominant strategy equilibrium; this is no longer the case when multiple units of a homogeneous good are sold in repeated iterations. Previous work attempted to bound this inefficiency loss for two users with non-increasing marginal valuations and full information.

  • Format: PDF
  • Size: 187.98 KB