منابع مشابه
Asymmetric Reduced Form Auctions
This paper provides a tractable characterization of feasibility of asymmetric reduced form auctions. Using this, auction design problems can be stated in terms of the reduced form only. This allows to solve optimal auction problems when classical solution techniques fail. DOI: https://doi.org/10.1016/j.econlet.2010.09.019 Posted at the Zurich Open Repository and Archive, University of Zurich ZO...
متن کاملAuction form preference and inefficiency of asymmetric discriminatory auctions
We examine the efficiency and expected revenue properties of an asymmetric discriminatory auction with two bidders and two objects. While inherently inefficient, the discriminatory auction may result in higher expected revenue than the efficient Vickrey mechanism. JEL Classification: D44.
متن کاملAsymmetric Auctions
The revenue-equivalence theorem' for auctions predicts that expected seller revenue is independent of the bidding rules, as long as equilibrium has the properties that the buyer with the highest reservation price wins and any buyer with the lowest possible reservation price has zero expected surplus. Thus, in particular, the two most common auction institutions-the open "English" auction and th...
متن کاملAsymmetric Auctions with Resale
In a first-price auction, asymmetries among bidders typically result in inefficient allocations— that is, the winner of the auction may not be the person who values the object the most. This inefficiency creates a motive for post-auction resale, and when bidders take resale possibilities into account, their bidding behavior is affected as well. Standard models of such auctions, by and large, im...
متن کاملAsymmetric Spite in Auctions
In many auctions, agents bid more aggressively than selfinterest would prescribe. This can be explained by spite, where the agent’s utility not only increases in the agent’s surplus but also decreases as the other bidders’ surpluses increase. Spite can stem from long-term benefits from making competitors worse off and from inherent psychological effects. There have been important recent game-th...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2011
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2010.09.019