The Herodotus paradox

نویسندگان

  • Michael R. Baye
  • Dan Kovenock
  • Casper G. de Vries
چکیده

The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for the twoplayer case with complete and incompete information, and in so doing identify what we call the “Herodotus Paradox.” ∗Correspondent: Michael R. Baye, Department of Business Economics and Public Policy, Kelley School of Business, Indiana University, Bloomington IN 47405. Email: [email protected]. We are grateful to Chaim Fershtman, Vladimir Karamychev, Michael Rauh, and Eric Schmidbauer for helpful conversations.

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عنوان ژورنال:
  • Games and Economic Behavior

دوره 74  شماره 

صفحات  -

تاریخ انتشار 2012