Information Acquisition During a Descending Auction
AbstractIf bidders can acquire information during the auction the descending auction is no longer equivalent to a first-price-sealed-bid auction. Revenue equivalence does not hold. The incentive to acquire information can even be larger in a descending auction than in an ascending auction.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7023.
Date of creation: Oct 2008
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Find related papers by JEL classification:
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-02-28 (All new papers)
- NEP-CTA-2009-02-28 (Contract Theory & Applications)
- NEP-GTH-2009-02-28 (Game Theory)
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