Optimal auction with a general distribution: virtual valuation without densities
AbstractWe characterize the optimal auction in an independent private values framework for a completely general distribution of valuations. We do this introducing a new concept: the generalizedvirtual valuation. To show the wider applicability of this concept we present twoexamples showing how to extend the classical models of Mussa and Rosen and Baron andMyerson for arbitrary distributions.
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Bibliographic InfoPaper provided by FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil) in its series Economics Working Papers (Ensaios Economicos da EPGE) with number 681.
Date of creation: 25 Nov 2008
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- Monteiro, Paulo Klinger & Svaiter, Benar Fux, 2010. "Optimal auction with a general distribution: Virtual valuation without densities," Journal of Mathematical Economics, Elsevier, vol. 46(1), pages 21-31, January.
- NEP-ALL-2008-12-07 (All new papers)
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