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English auctions and the Stolper-Samuelson theorem

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Author Info
Dubra, Juan
Echenique, Federico
Manelli, Alejandro

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Abstract

We prove that the English auction (with bidders that need not be ex ante identical and may have interdependent valuations) has an efficient ex post equilibrium. We establish this result for environments where it has not been previously obtained. We also prove two versions of the Stolper-Samuelson theorem, one for economies with n goods and n factors, and one for non-square economies. Similar assumptions and methods underlie these seemingly unrelated results.

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File URL: http://mpra.ub.uni-muenchen.de/8218/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 8218.

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Date of creation: 15 Nov 2007
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Handle: RePEc:pra:mprapa:8218

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Related research
Keywords: English auctions Stolper-Samuelson single crossing

Find related papers by JEL classification:
F11 - International Economics - - Trade - - - Neoclassical Models of Trade
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
C60 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - General

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  1. Krishna, Vijay, 2003. "Asymmetric English auctions," Journal of Economic Theory, Elsevier, vol. 112(2), pages 261-288, October. [Downloadable!] (restricted)
  2. Robert Wilson, 1998. "Sequential equilibria of asymmetric ascending auctions: The case of log-normal distributions," Economic Theory, Springer, vol. 12(2), pages 433-440. [Downloadable!] (restricted)
  3. Chipman, John S, 1969. "Factor Price Equalization and the Stolper-Samuelson Theorem," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 10(3), pages 399-406, October. [Downloadable!] (restricted)
  4. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September. [Downloadable!] (restricted)
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