Efficiency in auctions with crossholdings
AbstractWe 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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Bibliographic InfoPaper provided by HAL in its series Post-Print with number hal-00702434.
Date of creation: 2003
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Publication status: Published, Applied Economics Letters, 2003, 80, 1, 1-7
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Auctions ; Efficiency ; Crossholdings;
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