Working Paper: CEPR ID: DP13667
Authors: Paul Klemperer
Abstract: This paper adds new material, including about implementations of the product-mix auction and more detail about the bidding languages, to Klemperer (2008) [see next page for details]. Software (pro bono) to run several versions of product-mix auctions is now available at http://pma.nuff.ox.ac.uk.
Keywords: Auction; Multi-object auction; Multiproduct auction; Geometric bidding language; Bidding language; Bank of England; Simultaneous ascending auction; Simultaneous multiple round auction; Product mix auction
JEL Codes: D44; E58
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| productmix auction (D44) | efficiency (D61) |
| productmix auction (D44) | reduced market power (D49) |
| auction design (D44) | bidder behavior (D44) |
| auction design (D44) | market outcomes (P42) |
| auction setup (D44) | outcomes based on preferences (D01) |
| auction improves allocation of funds (D44) | during financial crises (G01) |
| auction provides better insight (D44) | market conditions (P42) |