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Optimality And The Second-Price Auction With Resale

Author

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  • Bernard Lebrun

    (Department of Economics, York University)

Abstract

If the value cumulative distribution functions are log-concave at the highest lower extremity of their supports of the first-price auction in the asymmetric indepent private values model.

Suggested Citation

  • Bernard Lebrun, 2004. "Optimality And The Second-Price Auction With Resale," Discussion Papers 2004_03, York University, Department of Economics, revised May 2004.
    • Handle: RePEc:yca:dpaper:2004_03
    as

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    File URL: http://dept.econ.yorku.ca/research/workingPapers/working_papers/2004/lebrunb-u.pdf
    File Function: First version, 2004
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    References listed on IDEAS

    as
    1. Patrick Bajari, 2001. "Comparing competition and collusion: a numerical approach," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 18(1), pages 187-205.
    2. Kenneth Hendricks & Robert H. Porter, 1989. "Collusion in Auctions," Annals of Economics and Statistics, GENES, issue 15-16, pages 217-230.
    3. Mark Bagnoli & Ted Bergstrom, 2006. "Log-concave probability and its applications," Studies in Economic Theory, in: Charalambos D. Aliprantis & Rosa L. Matzkin & Daniel L. McFadden & James C. Moore & Nicholas C. Yann (ed.), Rationality and Equilibrium, pages 217-241, Springer.
    4. Bernard Lebrun, 2002. "Continuity of the first price auction Nash equilibrium correspondence," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 20(3), pages 435-453.
    5. An, Mark Yuying, 1998. "Logconcavity versus Logconvexity: A Complete Characterization," Journal of Economic Theory, Elsevier, vol. 80(2), pages 350-369, June.
    6. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-180, January.
    7. Matthew O. Jackson & Leo K. Simon & Jeroen M. Swinkels & William R. Zame, 2002. "Communication and Equilibrium in Discontinuous Games of Incomplete Information," Econometrica, Econometric Society, vol. 70(5), pages 1711-1740, September.
    8. Robert H. Porter & J. Douglas Zona, 1999. "Ohio School Milk Markets: An Analysis of Bidding," RAND Journal of Economics, The RAND Corporation, vol. 30(2), pages 263-288, Summer.
    9. repec:adr:anecst:y:1989:i:15-16:p:10 is not listed on IDEAS
    10. Athey, Susan, 2001. "Single Crossing Properties and the Existence of Pure Strategy Equilibria in Games of Incomplete Information," Econometrica, Econometric Society, vol. 69(4), pages 861-889, July.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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