Browsing by Subject "Approximate mechanism"

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    • Approximately Optimal Mechanisms With Correlated Buyer Valuations 

      Albert, Michael Joseph (2013)
      Cremer and McLean 1985 shows that if buyers valuations are suciently correlated, there is a mechanism that allows the seller to extract the full surplus from the buyers. However, in practice, we do not see the Cremer-McLean ...