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Should Auctioneers Supply Early Information for Prospective Bidders?

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Author Info
Vagstad, S.

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Abstract

Consider an auction in which potential bidders must sink an entry investment before learning their values. Suppose the auction designer can make the bidders learn their value before entry. Such early information will induce screening of high-value bidders, and it will give rise to information rents and thereby a difference between the socially optimal auction and the auctioneer's preferred mechanism.

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Publisher Info
Paper provided by Department of Economics, University of Bergen in its series Norway; Department of Economics, University of Bergen with number 0701.

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Length: 18 pages
Date of creation: 2001
Date of revision:
Handle: RePEc:fth:bereco:0701

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Postal: Department of Economics, University of Bergen Fosswinckels Gate 6. N-5007 Bergen, Norway
Phone: (+47)55589200
Fax: (+47)55589210
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Web page: http://www.uib.no/econ/
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Related research
Keywords: AUCTIONS ; INVESTMENTS ; INFORMATION;

Other versions of this item:

Find related papers by JEL classification:
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

Cited by:
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  1. Simon Board, 2009. "Revealing information in auctions: the allocation effect," Economic Theory, Springer, vol. 38(1), pages 125-135, January. [Downloadable!] (restricted)
Statistics
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This page was last updated on 2009-11-20.

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