Efficient Consignment Auctions
Published in Review of Economics and Statistics • Jan 1, 2026
NobleIDNI5P54W99R07S26
Authors:,,
Bing Liu
Simon Loertscher
Leslie M. Marx
Abstract
Abstract Consignment auctions are two-stage mechanisms to (re)allocate emission permits. Firms are first endowed with permits and then allowed to trade them. We determine theoretically endowments that enable efficient allocation, subject to incentive compatibility, individual rationality, and no def...
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