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Essays On Market Design And Auctions, Mingshi Kang
Essays On Market Design And Auctions, Mingshi Kang
Electronic Thesis and Dissertation Repository
My thesis consists of three chapters that contribute to redistribution-driven market design and sponsored link auctions.
Chapter 2 and 3 (co-authored with Charles Zheng) study redistribution-driven market design with endogenous buyers and sellers. In Chapter 2, we consider a large market environment with each individual endowed with equal shares of a limited resources and allowed to buy or sell the shares. We characterize the interim (incentive-constrained) Pareto frontier subject to market clearance and budget balance, and find that at most two prices are needed to attain any (interim) Pareto optimum. Under robust conditions of the primitives, the Pareto optimal allocation …