Optimal advertising of auctions

被引：12
|
作者：
Szech, Nora [1 ]
机构：
[1] Univ Bonn, D-53113 Bonn, Germany
来源：
JOURNAL OF ECONOMIC THEORY | 2011年 / 146卷 / 06期
关键词：
Auctions; Advertising; Order statistics;
D O I：
10.1016/j.jet.2011.10.010
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We study a symmetric independent private values auction model where the revenue-maximizing seller faces a cost c(n) of attracting is bidders to the auction. If the distribution of valuations possesses an increasing failure rate (IFR), the seller overinvests in attracting bidders compared to the social optimum. Conversely, if the distribution is DFR, the seller underinvests compared to the social optimum. If the distribution of valuations becomes more dispersed, both, a revenue- and a welfare-maximizing seller, attract more bidders. (C) 2011 Elsevier Inc. All rights reserved.
引用
收藏
页码：2596 / 2607
页数：12
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