Auctions in which individuals can purchase more than one unit of the good being sold differ in striking ways from multi-unit auctions in which individuals may purchase only one unit. The uniform price auction in particular frequently yields Nash equilibria in which bidders underbid for their...

This paper considers a uniform-price auction in which each of n symmetric bidders can place, say, M bids. Each bidder has privately known, decreasing marginal values from an arbitrary M -dimensional distribution. We provide a quantile-type description of the asymptotic price that appropriately...