Rubinstein, Jacob; Wolfstetter, Elmar; Landsberger, Michael - In: Review of Economic Design 6 (2001) 3, pp. 461-480
We consider a first-price auction when the ranking of bidders' private valuations is common knowledge among bidders. This new informational framework is motivated by several applications, from procurement to privatization. It induces a particular asymmetric auction model with affiliated private...