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In open internet auctions with deadlines, some bids made near the deadline are randomly lost. Roth and coauthors have demonstrated via full-information examples that multiple bidders bidding late can nevertheless be equilibrium behavior, as the cost to one bidder of a lost bid can be outweighed...
Persistent link: https://www.econbiz.de/10010902375
We explore the relationship between public information and implementable outcomes in an environment characterized by random endowments and private information. We show that if public signals carry no information about private types, then an exact relationship holds: a more informative public...
Persistent link: https://www.econbiz.de/10005750180
A standard election in which each voter chooses a single alternative permits voters little scope to express the intensity of their preferences. Allowing more complex statements of preferences may not alleviate the problem if voters behave strategically, as only certain statements are credible. I...
Persistent link: https://www.econbiz.de/10005626674