Almost common value auctions and discontinuous equilibria

DOI10.1007/S10479-013-1377-5MaRDI QIDQ2348769zbMATH OpenOpenAlexFDO

Authors Gisèle Umbhauer

Publication date 15 June 2015

Published in Annals of Operations Research (Search for Journal in Brave)

Full work available at URL https://hal.univ-lorraine.fr/hal-01735849/file/islandora_96871.pdf

zbMATH Keywords

Nash equilibriumperfect equilibriumcommon value auctionslevel-\(k\) reasoningsecond-price sealed-bid auctions

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26) Noncooperative games (91A10) 2-person games (91A05) Signaling and communication in game theory (91A28)

Recommendations

• Equilibria in open common value auctions
• A Class of Dominance Solvable Common-Value Auctions
• Equilibrium selection in common-value second-price auctions
• Revisiting the convergence theorem for competitive bidding in common value auctions
• Computationally convenient distributional assumptions for common-value auctions
• Common-value auctions with discrete private information
• Repeated common value auctions with asymmetric bidders
• A note on the continuity of the optimal auction
• Asymmetric common-value auctions with applications to private-value auctions with resale
• Common-value all-pay auctions with asymmetric information

Cites work

• Level-k Auctions: Can a Nonequilibrium Model of Strategic Thinking Explain the Winner's Curse and Overbidding in Private-Value Auctions?
• Reexamination of the perfectness concept for equilibrium points in extensive games
• Reputation in repeated second-price auctions

Cited in

(3)

• Industry concentration in common value auctions: theory and evidence
• The expected stop-out price in a discriminating auction
• Asymptotic Efficiency for Discriminatory Private Value Auctions

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