Reny, Philip J.; Zamir, Shmuel - In: Econometrica 72 (2004) 4, pp. 1105-1125
We establish the existence of pure strategy equilibria in monotone bidding functions in first-price auctions with asymmetric bidders, interdependent values, and affiliated one-dimensional signals. By extending a monotonicity result due to Milgrom and Weber (1982), we show that single crossing...