منابع مشابه
Information in Auctions: Disclosure
Should a seller release public information before, or indeed during, an auction? The posing and answering of this question by Milgrom and Weber (1982a) (MWa) provides one of the cornerstones of present day auction theory and the result that disclosure is good for revenue has even become part of folk wisdom in some policy areas. In context of their general symmetric a¢ liated model. Milgrom and ...
متن کاملOptimal Information Disclosure in Auctions and the Handicap Auction
We analyse a situation where a monopolist is selling an indivisible good to risk-neutral buyers who only have an estimate of their private valuations. The seller can release, without observing, certain additional signals that affect the buyers’ valuations. Our main result is that in the expected revenue-maximizing mechanism, the seller makes available all the information that she can, and her e...
متن کاملOptimal Disclosure of Costly Information Packages in Auctions∗
In an independent, private values, second-price auction with entry fees we discuss the way in which a seller should optimally spread costly information among the bidders. We find that marginal gross revenues do not generally behave monotonically in total information release. In the two bidder case, essentially, any asymmetric allocation of information dominates the symmetric information allocat...
متن کاملPrivate Information Disclosure in Auctions
This paper provides a novel approach to ordering signals based on the property that more informative signals lead to greater variability of conditional expectations. A new class of precision criteria is defined by combining this approach with different variability orders and its relation with existing criteria of informativeness explored. Then, precision criteria are used to study the incentive...
متن کاملSequential information disclosure in auctions
We propose a sequential auction mechanism for a single object in which the seller jointly determines the allocation and the disclosure policy. A sequential disclosure rule is shown to implement an ascending price auction in which each losing bidder learns his true valuation, but the winning bidder’s information is truncated from below. As the auction ends, the winning bidder only has limited in...
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ژورنال
عنوان ژورنال: International Journal of Industrial Organization
سال: 2019
ISSN: 0167-7187
DOI: 10.1016/j.ijindorg.2018.11.004