Essays on Multi-Object Auctions

88 p.Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 1997.The second chapter considers an auctioneer faced with a decision as whether to bundle two or more different objects before selling them. Under a Vickrey auction rule there is a unique critical number for each pair of objects such that when the number of bidders is fewer than that number the seller strictly prefers a bundled sale and when there are more bidders the seller prefers unbundled sales. This property holds even when the valuations for the objects are correlated for a given bidder. In this situation both Vickrey auction and first-price auction yield the same expected revenue and the analysis is unchanged across revenue equivalent auction rules.U of I OnlyRestricted to the U of I community idenfinitely during batch ingest of legacy ETD