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Recent progress in the empirical analysis of multi-unit auctions

✍ Scribed by Ali Hortaçsu

Book ID
116557170
Publisher
Elsevier Science
Year
2011
Tongue
English
Weight
168 KB
Volume
29
Category
Article
ISSN
0167-7187

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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