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original papers : Who else is bidding? The Pareto optimality of disclosing bidder identities

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  • Gopal Das Varma

    ()
    (Fuqua School of Business, Duke University, Box 90120, Durham, NC 27708, USA)

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    Abstract

    This paper examines whether the seller of an object should reveal the identities of the participating bidders before bids become due. It is shown that when bidders experience identity dependent externalities and auction participation is exogenous, then for a large class of standard auction mechanisms, a policy of revelation serves to realize a higher surplus because it improves the accuracy of each bidder's estimate of her ex-post willingness-to-pay, and therefore changes the auction allocation in a more ex-post efficient manner. Furthermore, it is shown that the policy of revelation increases both the expected seller revenues as well as ex-ante expected bidder payoffs.

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    Bibliographic Info

    Article provided by Springer in its journal Review of Economic Design.

    Volume (Year): 7 (2002)
    Issue (Month): 2 ()
    Pages: 155-171

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    Handle: RePEc:spr:reecde:v:7:y:2002:i:2:p:155-171

    Note: Received: 4 February 2000 / Accepted: 15 November 2000
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    Related research

    Keywords: Auction; externalities; efficiency; mechanism design;

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