Albano, Gian; Germano, Fabrizio; Lovo, Stefano - In: Economic Theory 28 (2006) 2, pp. 331-355
We consider two ascending auctions for multiple objects, namely, an English and a Japanese auction, and derive a perfect Bayesian equilibrium of the Japanese auction by exploiting its strategic equivalence with the survival auction, which consists of a finite sequence of sealed-bid auctions....