Retaliatory Equilibria in a Japanese Ascending Auction for Multiple Objects
نویسندگان
چکیده
We construct a family of retaliatory equilibria for the Japanese ascending auction for multiple objects, thus showing that while it is immune to many of the tacitly collusive equilibria studied in the literature, it is not entirely immune when some bidders are commonly known to be interested in a specific object. JEL Classification: C72, D44.
منابع مشابه
On Some Collusive and Signaling Equilibria in Ascending Auctions for Multiple Objects
We consider two ascending auctions for multiple objects: the SEAMO (simultaneous English auction for multiple objects) and the the JAMO (Japanese auction for multiple objects). We first derive a (competitive) Perfect Bayesian Equilibrium of the JAMO by exploiting the strategic equivalence between the JAMO and the Survival Auction which consists of a finite sequence of sealed-bid auctions. Then,...
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