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Two-Object Two-Bidder Simultaneous Auctions

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Author Info
BALÁZS SZENTES () (Department of Economics, University of Chicago, 1126 East 59th Street, Chicago, IL 60637, USA)
Abstract

Symmetric equilibria are constructed for a class of symmetric auction games. The games all have two identical bidders bidding in two simultaneous sealed-bid auctions for identical objects. Information is complete and the objects are either complements or substitutes. In both cases a continuum of mixed-strategy equilibria are identified. All these equilibria have a surprising structure: The supports of all the mixtures that generate equilibria are two one-dimensional curves, and they surround a two-dimensional set of pure best responses.

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Publisher Info
Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

Volume (Year): 09 (2007)
Issue (Month): 03 ()
Pages: 483-493
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Handle: RePEc:wsi:igtrxx:v:09:y:2007:i:03:p:483-493

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Related research
Keywords: Simultaneous auctions; exposure problem; Journal of Economic Literature Classification Numbers: C71; Journal of Economic Literature Classification Numbers: D44;

Find related papers by JEL classification:
B4 - Schools of Economic Thought and Methodology - - Economic Methodology
C0 - Mathematical and Quantitative Methods - - General
C6 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming
C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
D5 - Microeconomics - - General Equilibrium and Disequilibrium
D7 - Microeconomics - - Analysis of Collective Decision-Making
M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics

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This page was last updated on 2009-12-9.

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