Information revelation and efficiency in auctions
AbstractWe study the impact of information revelation on effciency in auctions. In a constrained-efficient mechanism, i.e. a mechanism that is efficient subject to the incentivecompatibility constraint, any additional information available to bidders increases the expected efficiency of the mechanism. This result cannot be extended to a more general setup: in a second-price sealed bid auction, revelation of information might lead to efficiency losses.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 83 (2004)
Issue (Month): 3 (June)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Mikusheva, Anna & Sonin, Konstantin, 2002. "Information Revelation and Efficiency in Auctions," CEPR Discussion Papers 3675, C.E.P.R. Discussion Papers.
- Anna Mikusheva & Konstantin Sonin, 2002. "Information Revelation and Efficiency in Auctions," Working Papers w0021, Center for Economic and Financial Research (CEFIR).
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
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