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Persistent link: https://www.econbiz.de/10001481943
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We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market game is solved by solving an equivalent auxiliary social choice problem. We show that standard auctions are fully efficient, whereas reserve price requirements entail a double...
Persistent link: https://www.econbiz.de/10009583440
Persistent link: https://www.econbiz.de/10001470251
We consider auction games where, prior to the auction, bidders spend resources to increase to their valuations. The market game is solved by solving an equivalent auxiliary social choice problem, We show that standard auctions are fully efficient, whereas reserve price requirements entail a...
Persistent link: https://www.econbiz.de/10001473748
We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market game is solved by solving an equivalent auxiliary social choice problem. We show that standard auctions are fully efficient, whereas reserve price requirements entail a double...
Persistent link: https://www.econbiz.de/10009781529
We consider auction games where, prior to the auction, bidders spend resources to increase their valuations. The market game is solved by solving an equivalent auxiliary social choice problem. We show that standard auctions are fully efficient, whereas reserve price requirements entail a double...
Persistent link: https://www.econbiz.de/10013321383