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DOI: 10.5445/IR/1000051310

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.


Zugehörige Institution(en) am KIT Institut für Volkswirtschaftslehre (ECON)
Publikationstyp Forschungsbericht
Jahr 2015
Sprache Englisch
Identifikator ISSN: 2190-9806
URN: urn:nbn:de:swb:90-513107
KITopen ID: 1000051310
Verlag KIT, Karlsruhe
Umfang 34 S.
Serie Working paper series in economics ; 76
Schlagworte Lambda-regularity; Myerson regularity; Monotone Hazard Rate; Auctions; Mechanism Design; Approximation
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