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Can the Seller Benefit from an Insider in Common-Value Auctions?

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  • Campbell, Colin M.
  • Levin, Dan

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 91 (2000)
Issue (Month): 1 (March)
Pages: 106-120

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Handle: RePEc:eee:jetheo:v:91:y:2000:i:1:p:106-120

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Web page: http://www.elsevier.com/locate/inca/622869

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References

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  1. Robert B. Wilson, 1967. "Competitive Bidding with Asymmetric Information," Management Science, INFORMS, vol. 13(11), pages 816-820, July.
  2. Laskowski, Michael C. & Slonim, Robert L., 1999. "An Asymptotic Solution for Sealed Bid Common-Value Auctions with Bidders Having Asymmetric Information," Games and Economic Behavior, Elsevier, vol. 28(2), pages 238-255, August.
  3. Riley, John G & Samuelson, William F, 1981. "Optimal Auctions," American Economic Review, American Economic Association, vol. 71(3), pages 381-92, June.
  4. Paul Milgrom & Robert J. Weber, 1981. "The Value of Information in a Sealed-Bid Auction," Discussion Papers 462, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  5. John H. Kagel & Dan Levin, 1999. "Common Value Auctions with Insider Information," Econometrica, Econometric Society, vol. 67(5), pages 1219-1238, September.
  6. Paul Milgrom & Robert J. Weber, 1981. "A Theory of Auctions and Competitive Bidding," Discussion Papers 447R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  7. M. Weverbergh, 1979. "Note--Competitive Bidding with Asymmetric Information Reanalyzed," Management Science, INFORMS, vol. 25(3), pages 291-294, March.
  8. Hendricks, Kenneth & Porter, Robert H, 1988. "An Empirical Study of an Auction with Asymmetric Information," American Economic Review, American Economic Association, vol. 78(5), pages 865-83, December.
  9. J. Riley & E. Maskin, 1981. "Optimal Auctions with Risk Averse Buyers," Working papers 311, Massachusetts Institute of Technology (MIT), Department of Economics.
  10. Hendricks, Kenneth & Porter, Robert H & Wilson, Charles A, 1994. "Auctions for Oil and Gas Leases with an Informed Bidder and a Random Reservation Price," Econometrica, Econometric Society, vol. 62(6), pages 1415-44, November.
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Citations

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Cited by:
  1. Deltas, George & Engelbrecht-Wiggans, Richard, 2001. "Auctions with an inexpert bidder," Economics Letters, Elsevier, vol. 73(1), pages 35-42, October.
  2. Hanming Fang & Stephen Morris, 2003. "Multidimensional Private Value Auctions," Cowles Foundation Discussion Papers 1423, Cowles Foundation for Research in Economics, Yale University.
  3. Daniel Quint, 2010. "Looking smart versus playing dumb in common-value auctions," Economic Theory, Springer, vol. 44(3), pages 469-490, September.
  4. David Malueg & Ram Orzach, 2012. "Equilibrium and revenue in a family of common-value first-price auctions with differential information," International Journal of Game Theory, Springer, vol. 41(2), pages 219-254, May.
  5. Erik R. Fasten & Dirk Hofmann, 2010. "Two-sided Certification: The market for Rating Agencies," SFB 649 Discussion Papers SFB649DP2010-007, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
  6. Angel Hernando-Veciana & Michael Tröge, 2005. "The Insider's Curse," Microeconomics 0503012, EconWPA.
  7. Prüfer, J., 2008. "Semi-Public Contests," Discussion Paper 2008-023, Tilburg University, Tilburg Law and Economic Center.
  8. Kim, Jinwoo, 2008. "The value of an informed bidder in common value auctions," Journal of Economic Theory, Elsevier, vol. 143(1), pages 585-595, November.
  9. Larson, Nathan, 2009. "Private value perturbations and informational advantage in common value auctions," Games and Economic Behavior, Elsevier, vol. 65(2), pages 430-460, March.
  10. De Silva, Dakshina G. & Dunne, Timothy & Kankanamge, Anuruddha & Kosmopoulou, Georgia, 2008. "The impact of public information on bidding in highway procurement auctions," European Economic Review, Elsevier, vol. 52(1), pages 150-181, January.
  11. Trauten, Andreas & Langer, Thomas, 2007. "Information production and bidding in IPOs: An experimental analysis of auctions and fixed-price offerings," Working Papers 50, Competence Center Internet Economy and Hybrid Systems, European Research Center for Information Systems (ERCIS), University of Münster.

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