Asymmetric Price-Benefits Auctions
نویسندگان
چکیده
منابع مشابه
Asymmetric first price auctions
We propose a new approach to asymmetric rst price auctions which circumvents having to directly examine bidding strategies. Speci cally, the ratio of bidderspayo¤s is compared to the ratio of the distribution functions that describe beliefs. This comparison allows a number of easy inferences. In the existing theoretical literature, assumptions of rst order stochastic dominance or stronger im...
متن کاملMultiple equilibria in asymmetric first-price auctions
Maskin and Riley (Games Econ Behav 45:395–409, 2003) and Lebrun (Games Econ Behav 55:131–151, 2006) prove that the Bayes–Nash equilibrium of first-price auctions is unique. This uniqueness requires the assumption that a buyer never bids above his value (which amounts to the elimination of weakly dominated strategies). We demonstrate that, in asymmetric first-price auctions (with or without a mi...
متن کاملNumerical simulations of asymmetric first-price auctions
Article history: Received 1 November 2009 Available online 3 March 2011 JEL classification: D44 C63 C72 D82
متن کاملAsymmetric First-Price Auctions - A Perturbation Approach
We use perturbation analysis to obtain explicit approximations of the equilibrium bids in asymmetric first-price auctions with n bidders, in which bidders’ valuations are independently drawn from different distribution functions. Several applications are presented: explicit approximations of the seller’s expected revenue, the maximal bid, the optimal reserve price, inefficiency, and a consequen...
متن کاملNumerical Analysis of Asymmetric First Price Auctions
We propose numerical algorithms for solving first price auction problems where bidders draw independent valuations from heterogeneous distributions. The heterogeneity analyzed in this work is what might naturally emerge when subsets of distributionally homogeneous bidders collude. Bid functions and expected revenues are calculated for two special cases. Extensions to more general asymmetric fir...
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ژورنال
عنوان ژورنال: Games and Economic Behavior
سال: 2000
ISSN: 0899-8256
DOI: 10.1006/game.1999.0772