Private monitoring in auctions

Article Abstract:

The impact of an auctioneer's withholding of information on the collusion among bidders participating in first-price auctions, within a repeated game environment, is analyzed. The bidders employ private strategies in such situations.

Author: Blume, Andreas, Heidhues, Paul
Germany, Forecasts, trends, outlooks, Management dynamics, Miscellaneous retail stores, not elsewhere classified, Art Dealers, Auctioneers, Art Dealers, Management, Usage, Forecasts and trends, Behavior, Influence, Market trend/market analysis, Company business management, Game theory, Purchasing agents, Auctioneers, Disclosure of information

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All equilibria of the Vickery auction

Article Abstract:

The Vickrey's second-price sealed-bid auction with independent private values and three or more bidders is evaluated. It is shown that any effective reserve price implies uniqueness.

Author: Blume, Andreas, Heidhues, Paul
Evaluation

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Subjects list: United States, Auctions
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