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class of games, and show how it can be used to directly solve for equilibrium behavior in auctions, pricing games …
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We study first-price auctions with resale when there are many bidders and derive existence and characterization results … distributions are between strong and weak bidders. We also show in an example that the revenue advantage of first-price auctions … over second-price auctions is positive, but decreasing in the number of bidders. Copyright Springer-Verlag 2013 …
Persistent link: https://www.econbiz.de/10010993565
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This paper studies sequential auctions of licences to participate in a symmetric market game. Assuming that the rate at …
Persistent link: https://www.econbiz.de/10005370851
Standard auctions are known to be a revenue-maximizing way to sell an object under broad conditions when buyers are … symmetric and have independent private valuations. We show that when buyers have interdependent valuations, auctions may lose …
Persistent link: https://www.econbiz.de/10005370996
We generalize the Vickrey auction to allow for reserve pricing in a multi-unit auction with interdependent values. In the Vickrey auction with reserve pricing, the seller determines the quantity to be made available as a function of the bidders' reports of private information, and then...
Persistent link: https://www.econbiz.de/10005371037
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We model credit contracting and bidding in a first-price sealed-bid auction when bidder valuation and wealth are private information. An efficient separating equilibrium exists only if the wealth levels of both bidder types are sufficiently different. If not, high-valuation bidders signal by...
Persistent link: https://www.econbiz.de/10005155391
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