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Bidding to the Top: Position-based Auctions - page 15 / 23

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Our Main Theorem

For a fixed set of values, the top-down auction mechanism (GGSP) has a Nash equilibrium whose (allocation, pricing) is the same as VCG.

Furthermore,

This equilibrium is envy-free (symmetric).

Among all envy-free equilibria, this one is bidder-optimal.

Theorem:

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