منابع مشابه
Efficiency of Lowest-Unmatched Price Auctions
In Lowest-Unmatched Price Auctions (LUPA) all participants pay a bidding fee and the lowest bid placed by only one participant wins. Many LUPAs do not specify what happens with the item on offer if there is no unmatched bid. The item may remain with the auctioneer which may appear unfair given that the auctioneer collects the bidding fees. We show that in a symmetric Nash equilibrium of a LUPA ...
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The recent online platforms propose multiple items for bidding. The state of the art, however, is limited to the analysis of one item auction without resubmission. In this paper we study multi-item lowest unique bid auctions (LUBA) with resubmission in discrete bid spaces under budget constraints. We show that the game does not have pure Bayes-Nash equilibria (except in very special cases). How...
متن کاملLowest Unique Bid Auctions with Signals
A lowest unique bid auction allocates a good to the agent who submits the lowest bid that is not matched by any other bid. This peculiar auction format is becoming increasingly popular over the Internet. We show that when all the bidders are rational such a selling mechanism can lead to positive pro ts only if there is a large mismatch between the auctioneers and the bidders valuation. On the...
متن کاملKeyword Auctions as Weighted Unit-Price Auctions
In recent years, unit-price auctions in which bidders bid their willingness-to-pay for per-unit realized outcome have been adopted by major keyword advertising providers such as Yahoo!, Google, and MSN, in selling keyword advertising slots on web sites. The majority of keyword auctions are pay-per-click auctions in which advertisers specify their willingness-to-pay per click, and pay by the cli...
متن کاملRepeated First-Price Auctions
We study a model of two-round, rst-price, sealed bid auctions with two bidders and two identical items. We assume that both bidders want to purchase both items and the bidders valuation for the object remains the same in both rounds. After the conclusion of the rst round, the winner and the winning bid are publicly announced. The bidders use this information to update their beliefs about the...
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ژورنال
عنوان ژورنال: International Journal of Industrial Organization
سال: 2015
ISSN: 0167-7187
DOI: 10.1016/j.ijindorg.2015.07.004