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Efficiency in auctions with crossholdings

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  • David Ettinger

    () (LEDa - Laboratoire d'Economie de Dauphine - Université Paris IX - Paris Dauphine, CEREMADE - CEntre de REcherches en MAthématiques de la DEcision - CNRS : UMR7534 - Université Paris IX - Paris Dauphine)

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    Abstract

    We study the impact of crossholdings on the efficiency of the standard auction formats. The ascending auction is not equivalent to the second-price auction. In a class of examples, the ascending auction is the only efficient standard auction format.

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    File URL: http://hal.archives-ouvertes.fr/docs/00/70/24/34/PDF/efficiency2b.pdf
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    Bibliographic Info

    Paper provided by HAL in its series Post-Print with number hal-00702434.

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    Date of creation: 2003
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    Publication status: Published, Applied Economics Letters, 2003, 80, 1, 1-7
    Handle: RePEc:hal:journl:hal-00702434

    Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00702434
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    Web page: http://hal.archives-ouvertes.fr/

    Related research

    Keywords: Auctions ; Efficiency ; Crossholdings;

    References

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    1. Ettinger, David, 2008. "Auctions and shareholdings," Open Access publications from Université Paris-Dauphine urn:hdl:123456789/5431, Université Paris-Dauphine.
    2. Gopal Das Varma, 2002. "Standard Auctions with Identity-Dependent Externalities," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 689-708, Winter.
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    Cited by:
    1. Konrad, Kai A., 2006. "Silent interests and all-pay auctions," International Journal of Industrial Organization, Elsevier, vol. 24(4), pages 701-713, July.

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