Abstract

This paper develops a new ascending-price multi-unit auction protocol that has following characteristics: it has an open format, sincere bidding is an equilibrium strategy even if the marginal utilities of each agent can increase and agents can submit false-name bids. False-name bids are bids submitted under fictitious names such as multiple e-mail addresses, which can be done easily in the Internet. This is the first protocol that has these two characteristics. We show that our new protocol outperforms an existing protocol, which satisfies, with respect to the social surplus and the seller's revenue.