Pesendorfer, Wolfgang; Swinkels, Jeroen M. - In: Econometrica 65 (1997) 6, pp. 1247-1282
The authors consider an auction in which k identical objects of unknown value are auctioned off to n bidders. The k highest bidders get an object and pay the k + 1st bid. Bidders receive a signal that provides information about the value of the object. The authors characterize the unique...