On the failure of monotonicity in uniform-price auctions

DOI10.1016/J.JET.2007.01.002MaRDI QIDQ2469871zbMATH OpenOpenAlexFDO

Authors David McAdams

Publication date 11 February 2008

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL http://hdl.handle.net/10161/1944

zbMATH Keywords

independencemonotonicityrisk-aversionrisk-neutralityaffiliationuniform-price auction

Mathematics Subject Classification ID

Auctions, bargaining, bidding and selling, and other market models (91B26)

Recommendations

• Multi-unit auctions with uniform prices
• Uniform price auctions: equilibria and efficiency
• Monotone Equilibrium in Multi-Unit Auctions
• Uniform price auctions: equilibria and efficiency
• Equilibria in a multi-object uniform price sealed bid auction with multi- unit demands

Cites work

• Efficiency of Large Double Auctions
• Existence of equilibrium in large double auctions
• Monotone Equilibrium in Multi-Unit Auctions
• Toward a Strategic Foundation for Rational Expectations Equilibrium

Cited in

(8)

• Non-manipulability of uniform price auctions with a large number of objects
• Uniform price auctions with asymmetric bidders
• Uniform price auctions with a last accepted bid pricing rule
• Selection effects in auctions for monopoly rights
• Monotone Equilibrium in Multi-Unit Auctions
• Price instability in multi-unit auctions
• Non-monotoniticies and the all-pay auction tie-breaking rule
• On the failure of the linkage principle with financially constrained bidders.

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