English auctions and the Stolper-Samuelson theorem
AbstractWe 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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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 8218.
Date of creation: 15 Nov 2007
Date of revision:
English auctions; Stolper-Samuelson; single crossing;
Other versions of this item:
- Dubra, Juan & Echenique, Federico & Manelli, Alejandro M., 2009. "English auctions and the Stolper-Samuelson theorem," Journal of Economic Theory, Elsevier, vol. 144(2), pages 825-849, March.
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
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