𝔖 Bobbio Scriptorium
✦   LIBER   ✦

A model of sequential auctions

✍ Scribed by Donald B. Hausch


Book ID
116100520
Publisher
Elsevier Science
Year
1988
Tongue
English
Weight
518 KB
Volume
26
Category
Article
ISSN
0165-1765

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## Abstract We construct a model of participation and bidding at multi‐unit, sequential, clock auctions when bidders have multi‐unit demand. We describe conditions sufficient to characterize a symmetric, perfect‐Bayesian equilibrium and then demonstrate that this equilibrium induces an efficient al