A Formal Proof of Vickrey's Theorem by Blast, Simp, and Rule
University of Birmingham, Department of Economics Working Paper Series No. 14-01
12 Pages Posted: 9 Jan 2014
Date Written: January 5, 2014
Formal methods use computers to verify proofs or even discover new theorems. Interest in applying formal methods to problems in economics has increased in the past decade, but - to date - none of this work has been published in economics journals. This paper applies formal methods to a familiar environment - Vickrey's theorem on second-price auctions - and provides, as background, an introduction to formal methods.
Keywords: formal proof, mechanized reasoning, auction theory
JEL Classification: B41; C63; C88; D44
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