English auctions and the Stolper-Samuelson theorem
AbstractWe prove that the English auction (with bidders that need not be ex ante identical and may have interdependent valuations) has an efficient ex post equilibrium. We establish this result for environments where it has not been previously obtained. We also prove two versions of the Stolper-Samuelson theorem, one for economies with n goods and n factors, and one for non-square economies. Similar assumptions and methods underlie these seemingly unrelated results.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 144 (2009)
Issue (Month): 2 (March)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622869
Auction theory International trade Monotone comparative statics Global univalence;
Other versions of this item:
- Dubra, Juan & Echenique, Federico & Manelli, Alejandro, 2007. "English auctions and the Stolper-Samuelson theorem," MPRA Paper 8218, University Library of Munich, Germany.
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
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