SIEPR Policy
paper No. 03-034
The Clock-Proxy Auction:
A Practical Combinatorial Auction Design
Lawrence M. Ausubel, Peter Cramton, and Paul Milgrom
August 2004
Large scale package auctions are very complicated mechanisms that pose severe problems for bidders. This paper presents a new package auction design that seeks to ease the problem of bidding while still retaining the good features of the ascending proxy auction, as described in 03-035.