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Ascending auctions for multiple objects: the case for the Japanese design

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Author Info

  • Gian Albano

    ()

  • Fabrizio Germano

    ()

  • Stefano Lovo

    ()

Abstract

We consider two ascending auctions for multiple objects, namely, an English and a Japanese auction, and derive a perfect Bayesian equilibrium of the Japanese auction by exploiting its strategic equivalence with the survival auction, which consists of a finite sequence of sealed-bid auctions. Thus an equilibrium of a continuous time game is derived by means of backward induction in finitely many steps. We then show that all equilibria of the Japanese auction induce equilibria of the English auction, but that many collusive or signaling equilibria of the English auction do not have a counterpart in the Japanese auction. Copyright Springer-Verlag Berlin/Heidelberg 2006

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File URL: http://hdl.handle.net/10.1007/s00199-005-0634-5
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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 28 (2006)
Issue (Month): 2 (06)
Pages: 331-355

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Handle: RePEc:spr:joecth:v:28:y:2006:i:2:p:331-355

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Related research

Keywords: Multi-unit auctions; Ascending auctions; FCC auctions; Complementarities; Collusion; Signaling.;

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Cited by:
  1. Zheng, Charles Zhoucheng, 2006. "Jump Bidding and Overconcentration in Decentralized Simultaneous Ascending Auctions," Staff General Research Papers 12698, Iowa State University, Department of Economics.
  2. Brusco, Sandro & Lopomo, Giuseppe & Marx, Leslie M., 2009. "The [`]Google effect' in the FCC's 700Â MHz auction," Information Economics and Policy, Elsevier, vol. 21(2), pages 101-114, June.
  3. M. Yenmez, 2014. "Pricing in position auctions and online advertising," Economic Theory, Springer, vol. 55(1), pages 243-256, January.
  4. Sandro Brusco & Giuseppe Lopomo, 2005. "Simultaneous Ascending Auctions with Complementarities and Known Budget Constraints," Department of Economics Working Papers 05-13, Stony Brook University, Department of Economics.
  5. Hikmet Gunay & Xin Meng, 2012. "Exposure Problem in Multi-unit Auctions," ISER Discussion Paper 0848, Institute of Social and Economic Research, Osaka University.
  6. Jacob K. Goeree & Yuanchuan Lien, 2009. "An equilibrium analysis of the simultaneous ascending auction," IEW - Working Papers 428, Institute for Empirical Research in Economics - University of Zurich.
  7. Lavi, Ron & Oren, Sigal, 2012. "Side-communication yields efficiency of ascending auctions: The two-items case," Games and Economic Behavior, Elsevier, vol. 76(2), pages 439-456.

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