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Hindriks, K.V. (author), Tykhonov, D. (author), De Weerdt, M.M. (author)
A result of Bulow and Klemperer has suggested that auctions may be a better tool to obtain an efficient outcome than negotiation. For example, some auction mechanisms can be shown to be efficient and strategy-proof. However, they generally also require that additional constraints are met which are not always easy to guarantee in practice. It...
book chapter 2010