The Herodotus Paradox

The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for the two-player case with complete and incomplete information, and in so doing identify what we call the 'Herodotus Paradox.'

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Year of publication:	2010
Authors:	Baye, Michael R. ; Kovenock, Dan ; de Vries, Casper G.
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	Auktionstheorie \| Informationsökonomik \| Spieltheorie \| Gleichgewicht \| Theorie

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Series:	CESifo Working Paper ; 3135
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	63315475X [GVK] hdl:10419/39058 [Handle]
Classification:	C72 - Noncooperative Games ; D44 - Auctions
Source:	EconStor

Persistent link: https://www.econbiz.de/10010272937