2005 Fiscal Year Final Research Report Summary
RESEARCH ON MULTI-ITEM AUCTIONS
| Project/Area Number |
14530001
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
経済理論
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| Research Institution | TOHOKU UNIVERSITY |
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Principal Investigator |
MIYAKE Mitsunobu TOHOKU UNIVERSITY, GRADUATE SCHOOL OF ECONOMICS AND MANAGEMENT, PROFESSOR, 大学院・経済学研究科, 教授 (00190752)
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| Co-Investigator(Kenkyū-buntansha) |
SERIZAWA Shigehiro OSAKA UNIVERSITY, INSTITUTE OF SOCIAL AND ECONOMIC RESEARCH, PROFESSOR, 社会経済研究所, 教授 (90252717)
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| Project Period (FY) |
2002 – 2005
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| Keywords | MULTI-ITEM AUCTION / PARTIAL-EQUILIBRIUM MODEL / CONSUMER SURPLUS |
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| Research Abstract |
Prof.Miyake (the head investigator) studies the applicability of the partial equilibrium analysis on which the multi-item auction theory is based, and he derives the necessary and sufficient conditions on the agents' characteristics (utility functions and initial incomes) under which the partial-equilibrium analysis is applicable for the multi-item auction market, assuming that the items are normal goods. This result is summarized in a paper which will be published in an international journal : Mathematical Social Sciences. By this result, we can apply the consumer surplus measure to evaluate some alternative auction rules such as English, Dutch or Japanese auction rules and we can easily compute the equilibria of multi-item auctions.
Prof.Serizawa (the investigator) studies the axiomatic characterization of multi-item auctions with Prof.Cew Soo Hong.
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