On some myths about sequenced common-value auctions
AbstractEquilibria are constructed for classes of game models of sequenced second-price auctions having identical common-valued objects In some of these the equilibrium price falls on average, and in others the seller loses on average by committing to announce publicly something that he knows. Both of these possibilities are surprises.
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Auctions; Common valued objects; Information revelation;
Other versions of this item:
- Angeles de Frutos, Maria & Rosenthal, Robert W., 1998. "On Some Myths about Sequenced Common-Value Auctions," Games and Economic Behavior, Elsevier, vol. 23(2), pages 201-221, May.
- Frutos, María Ángeles de & Rosenthal, R., . "On Some Myths about Sequenced Common-valued Auctions," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/4418, Universidad Carlos III de Madrid.
- Maria Angeles de Frutos & Robert W. Rosenthal, 1997. "On Some Myths about Sequenced Common-value Auctions," Papers 0077, Boston University - Industry Studies Programme.
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