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This paper derives sufficient conditions for a class of games of complete information , such as first price auctions … private information about his own type (for example, a bidder's value for an object or a firm's marginal cost of production …
Persistent link: https://www.econbiz.de/10005748990
We consider the effect of asymmetric information on price formation process in a financial market where private … information is held by a market maker. A Byesian game is proposed in which there is price competition between two market makers … with two different information partition. …
Persistent link: https://www.econbiz.de/10005779489
A profit maximising auctioneer can provide a public good to a group of agents. Each group member has a private value for the good being provided to the group. We investigate an auction mechanism where the auctioneer provides the good to the group, only if the sum of their bids exceeds a reserve...
Persistent link: https://www.econbiz.de/10005779432
A profit-maximizing auctioneer can provide a public good to at most one of a number of groups of agents. The groups may have non-empty intersections. Each group member has a private value for the good being provided to the group. We investigate an auction mechanism where the auctioneer provides...
Persistent link: https://www.econbiz.de/10005779435
auction and public goods problems with quasi-linear utility functions. These conditions bear only on the information …
Persistent link: https://www.econbiz.de/10005779668
We study a general model of common-value second-price auctions with differential information. We show that one of the …. Furthermore when bidder has information advantage other bidders cannot make profit. …
Persistent link: https://www.econbiz.de/10005478966
It is common practice for firms to pool their expertise by forming parterships such as joint ventures and strategic alliances. A Central organizational problem in such parterships is that managers may behave noncooperatively in order to advance the interests of their parent firms. We ask whether...
Persistent link: https://www.econbiz.de/10005486722
Ths authors consider a first-price auction when the ranking of bidders' private valuations is common knowledge among bidders. This new informational framwork is motivated by several applications, from procurement to privatization. It induces a particular asymmetric auction model with affiliated...
Persistent link: https://www.econbiz.de/10005486793
and public information). In the case of private value, it is well-known that the Vickrey auction (for one good) or its … buyer's valuation can depend on other buyers' private information (the case of "common" or interdependent values … buyer's information can be represented as a one-dimensional signal (proposition 1 and 2). …
Persistent link: https://www.econbiz.de/10005245615
Persistent link: https://www.econbiz.de/10005027551