Existence of Equilibrium in Large Double Auctions

We show the existence of a pure strategy, symmetric, increasing equilibrium in double auction markets with correlated private valuations and many participants. The equilibrium we find is arbitrarily close to fully revealing as the market size grows. Our results provide strategic foundations for price-taking behavior in large markets

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Year of publication:	2004
Authors:	Fudenberg, Drew ; Mobius, Markus M. ; Szeidl, Adam
Publisher:	[S.l.] : SSRN
Subject:	Gleichgewichtsmodell \| Equilibrium model \| Auktionstheorie \| Auction theory \| Gleichgewichtstheorie \| Equilibrium theory

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Extent:	1 Online-Ressource (26 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 2004 erstellt
Other identifiers:	10.2139/ssrn.566861 [DOI]
Classification:	C62 - Existence and Stability Conditions of Equilibrium ; C72 - Noncooperative Games ; D44 - Auctions ; D82 - Asymmetric and Private Information
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014070605