Econ 805 – Advanced Micro
نویسنده
چکیده
We’re back in the Milgrom-Weber affiliated interdependent values model. Today, we’re going to compare first-price to ascending auctions. Milgrom and Weber spend a bunch of time and notation demonstrating the existence of a symmetric equilibrium in the first-price auction. For our purposes, we’re going to just accept that it exists, since we don’t need a closed-form expression for bidding functions to prove the result. First, a useful lemma:
منابع مشابه
On families of testing formulae for a pp formula
Astier and Tressl have recently proven that a pp formula fails on a finite subspace of a space of orderings if and only if a certain family of formulae is verified (V. Astier, M. Tressl, Axiomatization of localglobal principles for pp formulas in spaces of orderings, Arch. Math. Logic 44, No. 1 (2005), 77-95). The proof given in their paper is nonconstructive and uses rather advanced techniques...
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