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Characterization of incentive compatible single-parameter mechanisms revisited

Authors :
Krzysztof R. Apt
Jan Heering
Source :
Journal of Mechanism and Institution Design, Vol 7, Iss 1, Pp 113-129 (2022)
Publication Year :
2022
Publisher :
Society for the Promotion of Mechanism and Institution Design, 2022.

Abstract

We reexamine the characterization of incentive compatible single-parameter mechanisms introduced in Archer and Tardos (2001). We argue that the claimed uniqueness result, called 'Myerson's Lemma' was not well established. We provide an elementary proof of uniqueness that unifies the presentation for two classes of allocation functions used in the literature and show that the general case is a consequence of a little known result from the theory of real functions. We also clarify that our proof of uniqueness is more elementary than the previous one. Finally, by generalizing our characterization result to more dimensions, we provide alternative proofs of revenue equivalence results for multiunit auctions and combinatorial auctions.

Details

Language :
English
ISSN :
2399844X and 23998458
Volume :
7
Issue :
1
Database :
Directory of Open Access Journals
Journal :
Journal of Mechanism and Institution Design
Publication Type :
Academic Journal
Accession number :
edsdoj.79bef481c9f6431c9ecee9e64819a143
Document Type :
article
Full Text :
https://doi.org/10.22574/jmid.2022.12.004