Strategic price discounting and rationing in uniform price auctions
I modify the uniform-price auction rules in allowing the seller to ration bidders. This allows me to provide a strategic foundation for underpricing when the seller has an interest in ownership dispersion. Moreover, many of the so-called "collusive-seeming" equilibria disappear.
Year of publication: |
2009
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Authors: | Bourjade, Sylvain |
Published in: |
Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 105.2009, 1, p. 23-27
|
Publisher: |
Elsevier |
Keywords: | Uniform price auctions Rationing Uncertainty Initial public offerings |
Saved in:
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