Autore:
Menicucci, Domenico
Titolo:
Optimal two-object auctions with synergiesPeriodico:
International Center for Economics Research, Torino. ICER - Working papers seriesAnno:
2001 - Fascicolo:
18 - Pagina iniziale:
1 - Pagina finale:
29We design the revenue-maximizing auction for two goods when each buyer has bi-dimensional private information and a superadditive utility function (i.e., a synergy is generated if a buyer wins both goods). In this setting the seller is likely to allocate the goods inefficiently with respect to an environment woth no synergies [see Armstrong, RES (2000)]. In particular, if the synergy is large then it may occur that a buyer's valuations for the googs weakly domintae the valuations of another buyer and the latter one receives the bundle. We link this fact, which contrasts with the results for a setting without synergies, to "non-regular" one-goos models.
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