The Effectiveness of Simple Auctions
AbstractWe study the performance of English and second price auctions in which the seller sets an optimal reserve price given his beliefs. We define the effectivess of an auction as the ration between the expected revenue it generated for the seller and the expected valuation of the object to the bidder with the highest valuation (total surplus).
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Bibliographic InfoPaper provided by Boston University - Industry Studies Programme in its series Papers with number 0095.
Date of creation: May 1998
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Postal: Boston University, Industry Studies Program; Department of Economics, 270 Bay Road, Boston, Massachusetts 02215.
Web page: http://www.bu.edu/econ/isp/
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Other versions of this item:
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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- Philip A. Haile & Elie Tamer, 2003.
"Inference with an Incomplete Model of English Auctions,"
Journal of Political Economy,
University of Chicago Press, vol. 111(1), pages 1-51, February.
- Philip Haile, 2000. "Inference with an Incomplete Model of English Auctions," Econometric Society World Congress 2000 Contributed Papers 1546, Econometric Society.
- Haile,P.A. & Tamer,E.T., 2000. "Inference with an incomplete model of English auctions," Working papers 18, Wisconsin Madison - Social Systems.
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