Auctions with both common-value and private-value bidders

被引：2

作者：

Tan, Xu ^{[1
]}

Xing, Yiqing ^{[2
]}

机构：

[1] Stanford Univ, Dept Econ, Stanford, CA 94305 USA

[2] Peking Univ, Natl Sch Dev, CCER, Beijing, Peoples R China

来源：

ECONOMICS LETTERS | 2011年 / 111卷 / 01期

关键词：

Asymmetry; Second-price auction; Monotone equilibrium; Resale; ASYMMETRIC AUCTIONS;

D O I：

10.1016/j.econlet.2010.05.026

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper shows the existence of monotone pure-strategy equilibrium in auctions with both common-value bidders and private-value ones. In equilibrium, the common-value bidders bid less aggressively when there are more private-value bidders. Further, resale is discussed as an application. (C) 2010 Elsevier B.V. All rights reserved.

引用

页码：99 / 103

页数：5

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