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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. 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.
  2. John G. Riley & William Samuelson, 1979. "Optimal Auctions," UCLA Economics Working Papers 152, UCLA Department of Economics.
  3. 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.
  4. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September.
  5. M. Weverbergh, 1979. "Note--Competitive Bidding with Asymmetric Information Reanalyzed," Management Science, INFORMS, vol. 25(3), pages 291-294, March.
  6. John H. Kagel & Dan Levin, 1999. "Common Value Auctions with Insider Information," Econometrica, Econometric Society, vol. 67(5), pages 1219-1238, September.
  7. Robert B. Wilson, 1967. "Competitive Bidding with Asymmetric Information," Management Science, INFORMS, vol. 13(11), pages 816-820, July.
  8. Maskin, Eric S & Riley, John G, 1984. "Optimal Auctions with Risk Averse Buyers," Econometrica, Econometric Society, vol. 52(6), pages 1473-1518, November.
  9. 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.
  10. 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.
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Cited by:
  1. 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.
  2. 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.
  3. Hanming Fang, 2004. "Multidimensional Private Value Auctions," Theory workshop papers 121473000000000021, UCLA Department of Economics.
  4. Prüfer, J., 2008. "Semi-Public Contests," Discussion Paper 2008-023, Tilburg University, Tilburg Law and Economic Center.
  5. Angel Hernando-Veciana & Michael Tröge, 2005. "The Insider's Curse," Microeconomics 0503012, EconWPA.
  6. 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.
  7. 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.
  8. 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.
  9. Deltas, George & Engelbrecht-Wiggans, Richard, 2001. "Auctions with an inexpert bidder," Economics Letters, Elsevier, vol. 73(1), pages 35-42, October.
  10. 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.
  11. Daniel Quint, 2010. "Looking smart versus playing dumb in common-value auctions," Economic Theory, Springer, vol. 44(3), pages 469-490, September.

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