Related papers: $k$th price auctions and Catalan numbers
In this work we consider selling items using a sequential first price auction mechanism. We generalize the assumption of conservative bidding to extensive form games (henceforth optimistic conservative bidding), and show that for both…
Budget constraints are ubiquitous in online advertisement auctions. To manage these constraints and smooth out the expenditure across auctions, the bidders (or the platform on behalf of them) often employ pacing: each bidder is assigned a…
We initiate the study of how auction design affects the division of surplus among buyers. We propose a parsimonious measure for equity and apply it to the family of standard auctions for homogeneous goods. Our surplus-equitable mechanism is…
We study the tails of closing auction return distributions for a sample of liquid European stocks. We use the stochastic call auction model of Derksen et al. (2020a), to derive a relation between tail exponents of limit order placement…
This paper studies inference in first-price and second-price sealed-bid auctions with many bidders, using an asymptotic framework where the number of bidders increases while the number of auctions remains fixed. Our approach enables…
We propose a model for price formation in financial markets based on clearing of a standard call auction with random orders, and verify its validity for prediction of the daily closing price distribution statistically. The model considers…
In the paper, the authors analytically generalize the Catalan numbers in combinatorial number theory, establish an integral representation of the analytic generalization of the Catalan numbers by virtue of Cauchy's integral formula in the…
Since economic mechanisms are often applied to very different instances of the same problem, it is desirable to identify mechanisms that work well in a wide range of circumstances. We pursue this goal for a position auction setting and…
In this paper we establish some new congruences involving central binomial coefficients as well as Catalan numbers. Let $p$ be a prime and let $a$ be any positive integer. We determine $\sum_{k=0}^{p^a-1}\binom{2k}{k+d}$ mod $p^2$ for…
In this paper, we generalize the Catalan number to the $(n,k)$-th Catalan numbers and find a combinatorial description that the $(n,k)$-th Catalan numbers is equal to the number of partitions of $n(k-1)+2$ polygon by $(k+1)$-gon where all…
The call auction is a widely used trading mechanism, especially during the opening and closing periods of financial markets. In this paper, we study a standard call auction problem where orders are submitted according to Poisson processes,…
In this paper we determine the parity of some sequences which are related to Catalan numbers. Also we introduce a combinatorical object called, \Catalan tree", and discuss its properties.
We consider repeated multi-unit auctions with uniform pricing, which are widely used in practice for allocating goods such as carbon licenses. In each round, $K$ identical units of a good are sold to a group of buyers that have valuations…
Auctions for perishable goods such as internet ad inventory need to make real-time allocation and pricing decisions as the supply of the good arrives in an online manner, without knowing the entire supply in advance. These allocation and…
In lowest unique bid auctions, $N$ players bid for an item. The winner is whoever places the \emph{lowest} bid, provided that it is also unique. We use a grand canonical approach to derive an analytical expression for the equilibrium…
We advance empirical equilibrium analysis (Velez and Brown, 2020, arXiv:1907.12408) of the winner-bid and loser-bid auctions for the dissolution of a partnership. We show, in a complete information environment, that even though these…
For each positive integer $m$, the $m$th order harmonic numbers are given by $$H_n^{(m)}=\sum_{0<k\le n}\frac1{k^m}\ \ (n=0,1,2,\ldots).$$ We discover exact values of some series involving harmonic numbers of order not exceeding four. For…
The \emph{$q,t$-Catalan numbers} $C_n(q,t)$ are polynomials in $q$ and $t$ that reduce to the ordinary Catalan numbers when $q=t=1$. These polynomials have important connections to representation theory, algebraic geometry, and symmetric…
We study a seller who sells a single good to multiple bidders with uncertainty over the joint distribution of bidders' valuations, as well as bidders' higher-order beliefs about their opponents. The seller only knows the (possibly…
Consider a seller with m heterogeneous items for sale to a single additive buyer whose values for the items are arbitrarily correlated. It was previously shown that, in such settings, distributions exist for which the seller's optimal…