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A quantitative version of Myerson regularity

Schweizer, Nikolaus; Szech, Nora

Abstract:

In auction and mechanism design, Myerson's classical regularity condition is often too weak for a quantitative analysis of performance. For instance, ratios between revenue and welfare, or sales probabilities may vanish at the boundary of Myerson regularity. This paper introduces Lambda-regularity as a quantitative measure of how regular a distribution is. Lambda-regularity includes Myerson regularity and the monotone hazard rate condition as special cases. We show that Lambda-regularity implies sharp bounds on various key quantities in auction theory, thus extending several recent findings from quantitative auction and mechanism design.


Volltext §
DOI: 10.5445/IR/1000051310
Cover der Publikation
Zugehörige Institution(en) am KIT Institut für Volkswirtschaftslehre (ECON)
Publikationstyp Forschungsbericht/Preprint
Publikationsjahr 2015
Sprache Englisch
Identifikator ISSN: 2190-9806
urn:nbn:de:swb:90-513107
KITopen-ID: 1000051310
Verlag Karlsruher Institut für Technologie (KIT)
Umfang 34 S.
Serie Working paper series in economics ; 76
Schlagwörter Lambda-regularity; Myerson regularity; Monotone Hazard Rate; Auctions; Mechanism Design; Approximation
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