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Does SFE Correspond to Expected Behavior in the Uniform Price Auction?

In: Operations Research Proceedings 2012

Author

Listed:
  • Alexander Vasin

    (Lomonosov Moscow State University)

  • Marina Dolmatova

    (Lomonosov Moscow State University)

Abstract

We consider a game corresponding to the uniform price supply function auction for a homogenous good. We present best response dynamics analysis for a repeated auction game and show that under a linear marginal cost function, it converges to the SFE with a geometric rate. However, for a fixed marginal cost and limited production capacity, the best reply may not exist at some step so the dynamics does not converge to SFE in general.

Suggested Citation

  • Alexander Vasin & Marina Dolmatova, 2014. "Does SFE Correspond to Expected Behavior in the Uniform Price Auction?," Operations Research Proceedings, in: Stefan Helber & Michael Breitner & Daniel Rösch & Cornelia Schön & Johann-Matthias Graf von der Schu (ed.), Operations Research Proceedings 2012, edition 127, pages 231-236, Springer.
    • Handle: RePEc:spr:oprchp:978-3-319-00795-3_34
    DOI: 10.1007/978-3-319-00795-3_34
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    Cited by:

    1. Alexander Vasin & Marina Dolmatova & Gerhard-Wilhelm Weber, 2016. "Supply function equilibria for uniform price auction in oligopolistic markets," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 24(4), pages 819-831, December.

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