摘要：We study a double auction environment where buyers and sellers have interdependent valuations and multi‐unit demand and supply. We propose a new mechanism that satisfies ex post incentive compatibility, individual rationality, feasibility, nonwastefulness, and no budget deficit. Moreover, this mechanism is asymptotically efficient in that the trade outcome in the mechanism converges to the efficient level as in a competitive equilibrium as the numbers of the buyers and sellers become large. Our mechanism is the first double auction mechanism with these properties in the interdependent values setting.
关键词：Double auction
interdependent values
multi‐unit demand and supply
ex post incentive compatibility
asymptotic efficiency
D44
D47
D82
