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This paper studies the problem of information revelation in a multi-stage tournament where the agents’ effort in each …’ effort incentive through the use of a feedback policy, which transforms his private information into a public announcement … should use the no-feedback policy that reveals no information, or the full-feedback policy that reveals all his information …
Persistent link: https://www.econbiz.de/10001763125
This paper studies collusion in repeated auctions when bidders communicate prior to each stage auction. The paper presents a folk theorem for independent and correlated private signals and general interdependent values. Specifically, it identifies conditions under which an equilibrium collusion...
Persistent link: https://www.econbiz.de/10001674856