Technical supplement to the paper forthcoming in Rand Journal of Economics.

This paper studies an internet trading mechanism similar to the one described in Peters and Severinov (2000) in a market where traders values are interdependent. Conditions are given for which this mechanism has a perfect Bayesian equilibrium which supports allocations that are the same as the...

Proofs of some of the theorems in <a href=\"http://microeconomics.ca/michael_peters/internetauctionsrevisshort.pdf\"> Internet Auctions with Many Traders</a>

We study a multi-unit auction environment similar to eBay. Sellers, each with a single unit of a homogenous good, set reserve prices at their own independent second-price auctions. Each buyer has a private value for the good and wishes to acquire a single unit. Buyers can bid as often as they...