EINY, Ezra; HAIMANKO, Ori; ORZACH, Ram; SELA, Aner - Center for Operations Research and Econometrics (CORE), … - 2000
We study a general model of common-value second-price auctions with differential information. We show that one of the bidders has an information advantage over the other bidders if and only if he possesses a dominant strategy. A dominant strategy is, in fact, unique, and is given by the...