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Characterization of Bidding Behavior in Multi-Unit

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  • Luciano I. De Castro

    ()

  • Alvaro Riascos

    ()

Abstract

This paper provides first order conditions for a very general class of single or multi-unit auctions. Under mild conditions we characterize bidding-behavior and generalize previous standard results in the literature. As an application we obtain sufficient conditions for truth-telling, monotonic best reply strategies and identification results for multi-unit auctions.

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File URL: http://economia.uniandes.edu.co/publicaciones/documentocede2007-26.pdf
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Bibliographic Info

Paper provided by UNIVERSIDAD DE LOS ANDES-CEDE in its series DOCUMENTOS CEDE with number 004382.

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Length: 32
Date of creation: 09 Nov 2007
Date of revision:
Handle: RePEc:col:000089:004382

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Keywords: Multi-unit auctions; first order conditions; truth-telling; identification; monotonic bestreply.;

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Cited by:
  1. Aloisio Araujo & Luciano I. de Castro, 2006. "Pure Strategy Equilibria Of Single And Double Auctions With Interdependent Values," Economics Working Papers we065320, Universidad Carlos III, Departamento de Economía.
  2. Francisco Alvarez & Francisco J. André, 2013. "Auctioning vs. Grandfathering in Cap-and-Trade Systems with Market Power and Incomplete Information," Working Papers 2013.98, Fondazione Eni Enrico Mattei.
  3. Miguel A. Espinosa & Alvaro J. Riascos Villegas, 2010. "Strategic Behaviour, Resource Valuation and Competition in Electricity Markets," DOCUMENTOS CEDE 006856, UNIVERSIDAD DE LOS ANDES-CEDE.
  4. Ali Hortacsu & Jakub Kastl, 2010. "Informational Advantage and Information Structure: An Analysis of Canadian Treasury Auctions," Discussion Papers 09-031, Stanford Institute for Economic Policy Research.

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