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Asymmetric common-value auctions with applications to private-value auctions with resale

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  • Harrison Cheng

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  • Guofu Tan

    ()

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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s00199-009-0505-6
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    Bibliographic Info

    Article provided by Springer in its journal Economic Theory.

    Volume (Year): 45 (2010)
    Issue (Month): 1 (October)
    Pages: 253-290

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    Handle: RePEc:spr:joecth:v:45:y:2010:i:1:p:253-290

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    Related research

    Keywords: Common-value auctions; Private-value auctions; Resale; Revenue ranking; Regularity condition; Submodularity; Supermodularity; Single-crossing condition; D4; D8; L1;

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    References

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    1. Isa Hafalir & Vijay Krishna, 2008. "Asymmetric Auctions with Resale," American Economic Review, American Economic Association, vol. 98(1), pages 87-112, March.
    2. Milgrom,Paul, 2004. "Putting Auction Theory to Work," Cambridge Books, Cambridge University Press, number 9780521536721, April.
    3. Dirk Bergemann & Stephen Morris, 2003. "Robust Mechanism Design," Levine's Bibliography 666156000000000035, UCLA Department of Economics.
    4. Parreiras Sergio O., 2006. "Affiliated Common Value Auctions with Differential Information: The Two Bidder Case," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 6(1), pages 1-19, December.
    5. Engelbrecht-Wiggans, Richard & Milgrom, Paul R. & Weber, Robert J., 1983. "Competitive bidding and proprietary information," Journal of Mathematical Economics, Elsevier, vol. 11(2), pages 161-169, April.
    6. Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-819, November.
    7. Gustavo E. Rodriguez, 2000. "First price auctions: Monotonicity and uniqueness," International Journal of Game Theory, Springer, vol. 29(3), pages 413-432.
    8. Johannes H�rner & Julian Jamison, 2008. "Sequential Common-Value Auctions with Asymmetrically Informed Bidders," Review of Economic Studies, Oxford University Press, vol. 75(2), pages 475-498.
    9. Klemperer, Paul, 1998. "Auctions with almost common values: The 'Wallet Game' and its applications," European Economic Review, Elsevier, vol. 42(3-5), pages 757-769, May.
    10. Williams, Steven R., 1987. "Efficient performance in two agent bargaining," Journal of Economic Theory, Elsevier, vol. 41(1), pages 154-172, February.
    11. Blume, Andreas & Heidhues, Paul, 2004. "All equilibria of the Vickrey auction," Journal of Economic Theory, Elsevier, vol. 114(1), pages 170-177, January.
    12. 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.
    13. Gupta, Madhurima & Lebrun, Bernard, 1999. "First price auctions with resale," Economics Letters, Elsevier, vol. 64(2), pages 181-185, August.
    14. Börgers Tilman M & McQuade Timothy, 2007. "Information-Invariant Equilibria of Extensive Games," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 7(1), pages 1-31, December.
    15. Lizzeri, Alessandro & Persico, Nicola, 2000. "Uniqueness and Existence of Equilibrium in Auctions with a Reserve Price," Games and Economic Behavior, Elsevier, vol. 30(1), pages 83-114, January.
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    Cited by:
    1. Lebrun, Bernard, 2012. "Optimality and the English and second-price auctions with resale," Games and Economic Behavior, Elsevier, vol. 75(2), pages 731-751.
    2. Todd R. Kaplan & Shmuel Zamir, 2014. "Advances in Auctions," Discussion Papers 1405, Exeter University, Department of Economics.
    3. Gábor Virág, 2013. "First-price auctions with resale: the case of many bidders," Economic Theory, Springer, vol. 52(1), pages 129-163, January.
    4. Cheng, Harrison, 2011. "Auctions with resale and bargaining power," Journal of Mathematical Economics, Elsevier, vol. 47(3), pages 300-308.
    5. Christian Ewerhart, 2013. "Regular type distributions in mechanism design and $$\rho $$ -concavity," Economic Theory, Springer, vol. 53(3), pages 591-603, August.
    6. 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.
    7. Peter Postl, 2011. "Efficiency versus Optimality in Procurement," Discussion Papers 11-03rr, Department of Economics, University of Birmingham.
    8. Zhang, Jun & Wang, Ruqu, 2013. "Optimal mechanism design with resale via bargaining," Journal of Economic Theory, Elsevier, vol. 148(5), pages 2096-2123.

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