Zheng has recently proposed a seller-optimal auction for (asymmetric) independentprivate- value environments where inter-bidder resale is possible. Zheng's construction requires novel conditions on the bidders' value distribution profile. We clarify the restrictions implied by these conditions. Given distributions for two bidders and the supports of the other bidders' distributions, Zheng's conditions uniquely determine the entire distribution profile. Moreover, if the bidders' distributions have the same support then Zheng's conditions imply that all distributions except one are identical, so that the final allocation is obtained after a single resale transaction, regardless of the number of bidders.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by University of Bonn, Germany in its series Bonn Econ Discussion Papers with number
bgse29_2005.
Length: 16 Date of creation: Oct 2005 Date of revision: Handle: RePEc:bon:bonedp:bgse29_2005
Contact details of provider: Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany Fax: +49 228 73 9221 Web page: http://www.bgse.uni-bonn.de/index.php?id=494
For technical questions regarding this item, or to correct its listing, contact: (Daniel Park).
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Roger B. Myerson, 1978.
"Optimal Auction Design,"
Discussion Papers
362, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
[Downloadable!]
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)