Speaker: Oleg Baranov (University of Colorado at Boulder)
Title: Combinatorial Clock Auction: Missing Theory
Abstract: The combinatorial clock auction (CCA) has recently become a standard auction format choice in spectrum auctions. The main novel feature is separation of the auction into two stages: dynamic clock auction stage followed by a sealed-bid supplementary round. In this article, we leverage the recent work on the GARP activity rule to provide the first theoretical characterization of two-stage approach as a dynamic implementation of the Vickrey-Clarke-Groves mechanism.