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A Parametrization of the Auction Design Space

✍ Scribed by Peter R. Wurman; Michael P. Wellman; William E. Walsh

Book ID
115611282
Publisher
Elsevier Science
Year
2001
Tongue
English
Weight
210 KB
Volume
35
Category
Article
ISSN
0899-8256

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This paper analyzes the entry decision of rational bidders who expect to experience auction fever in English auctions. It shows that nonparticipation decision reduces seller's expected profit and this effect may outweigh the positive effect of the auction fever. We analyze the choice between English