The present paper models the electricity market auction as a two-person game with incomplete information under the assumption that bidders are symmetric, risk neutral and have independent private costs. Alonso and Tejada (2010) define an extensive parametric family of auction models which...

A range of cross-sectional models are estimated with a view to establishing the factors that determine the valuation of professional athletes in a highly-specialised sport, with an application to crickets Indian Premier League (IPL). We distinguish between personal characteristic and playing...

A range of cross-sectional models are estimated with a view to establishing the factors that determine the valuation of professional athletes in a highly-specialised sport, with an application to crickets Indian Premier League (IPL). We distinguish between personal characteristic and playing...

A range of cross-sectional models are estimated with a view to establishing the factors that determine the valuation of professional athletes in a highly-specialised sport, with an application to cricket's Indian Premier League (IPL). We distinguish between personal characteristic and playing...

We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our main result identifies a property of information---the betweenness property---that is both necessary and sufficient for information aggregation. The characterization provides...

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We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our main result identifies a property of information---the betweenness property---that is both necessary and sufficient for information aggregation. The characterization provides...