Hubbard, Timothy P.; Kirkegaard, Rene; Paarsch, Harry J. - Collegio Carlo Alberto, Università degli Studi di Torino - 2011
In models of first-price auctions, when bidders are ex ante heterogenous, deriving explicit equilibrium bid functions is typically impossible, so numerical methods (such as polynomial approximations) are often employed to find approximate solutions. Recent theoretical research concerning...