Monotonicity in asymmetric first-price auctions with affiliation
β Scribed by David McAdams
- Publisher
- Springer-Verlag
- Year
- 2006
- Tongue
- English
- Weight
- 493 KB
- Volume
- 35
- Category
- Article
- ISSN
- 0020-7276
No coin nor oath required. For personal study only.
π SIMILAR VOLUMES
## Abstract Collusion and heterogeneity across firms may introduce asymmetry in bidding games. A major difficulty in asymmetric auctions is that the Bayesian Nash equilibrium strategies are solutions of an intractable system of differential equations. We propose a simple method for estimating asymm
## Abstract In a firstβprice allβpay auction buyers have an incentive to delegate the bidding to agents and to provide these agents with incentives to make bids that differ from the bids the buyers would like to make. Both buyers are better off in this strictly nonβcooperative delegation equilibriu
This paper considers second-price, sealed-bid auctions with a buy price where bidders' types are discretely distributed. We characterize all equilibria in which bidders whose types are less than the buy price bid their own valuations. Budish and Takeyama ( 2001) analyze the two-bidder, two-type fram