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Reserve prices in a dynamic auction when bidders are capacity-constrained

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  • Saini, Viplav

Abstract

Allowing for a reserve price in a dynamic auction with capacity-constrained bidders changes the equilibrium in an unexpected way. The distribution of winning bids contains a mass point; several bidder types "bunch" at the reserve price.

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File URL: http://www.sciencedirect.com/science/article/B6V84-505F9D8-1/2/9058ab859aca65fd2a40089c078a1a54
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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 108 (2010)
Issue (Month): 3 (September)
Pages: 303-306

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Handle: RePEc:eee:ecolet:v:108:y:2010:i:3:p:303-306

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Web page: http://www.elsevier.com/locate/ecolet

Related research

Keywords: Dynamic auction Capacity constraint Reserve price;

References

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  1. repec:wop:humbsf:2000-72 is not listed on IDEAS
  2. Mireia Jofre-Bonet & Martin Pesendorfer, 2001. "Estimation of a Dynamic Auction Game," NBER Working Papers 8626, National Bureau of Economic Research, Inc.
  3. Veronika Grimm, 2007. "Sequential versus Bundle Auctions for Recurring Procurement," Journal of Economics, Springer, vol. 90(1), pages 1-27, January.
  4. Patrick Bajari & Lixin Ye, 2003. "Deciding Between Competition and Collusion," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 971-989, November.
  5. Thomas D. Jeitschko & Elmar Wolfstetter, 2002. "Scale Economies and the Dynamics of Recurring Auctions," Economic Inquiry, Western Economic Association International, vol. 40(3), pages 403-414, July.
  6. Maskin, Eric & Riley, John, 2000. "Asymmetric Auctions," Review of Economic Studies, Wiley Blackwell, vol. 67(3), pages 413-38, July.
  7. Dakshina G. De Silva & Timothy Dunne & Georgia Kosmopoulou, 2003. "An Empirical Analysis of Entrant and Incumbent Bidding in Road Construction Auctions," Journal of Industrial Economics, Wiley Blackwell, vol. 51(3), pages 295-316, 09.
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