CFDP 1757

Dynamic Auctions: A Survey

Author(s): 

Publication Date: March 2010

Pages: 15

Abstract: 

We survey the recent literature on designing auctions and mechanisms for dynamic settings. Two settings are considered: those with a dynamic population of agents or buyers whose private information remains fixed throughout time; and those with a fixed population of agents or buyers whose private information changes across time. Within each of these settings, we discuss both efficient (welfare-maximizing) and optimal (revenue-maximizing) mechanisms.

Keywords: 

Dynamic auctions and mechanisms, Random arrivals and departures, Changing private information, Incentive compatibility

JEL Classification Codes:  C73, D43, D44, D82, D83