A first-price sealed-bid auction of an item for which bidders are risk-neutral and have privately known values is shown to have an equilibrium in mixed behavioral strategies if the joint distribution of bidders' values has a continuous density on a cubical support. Such an equilibrium has...

We impose three conditions on refinements of the Nash equilibria of finite games with perfect recall that select closed connected subsets, called solutions. A. Each equilibrium in a solution uses undominated strategies; B. Each solution contains a quasi-perfect equilibrium; C. The solutions of a...