Uniqueness of the Equilibrium in First-Price Auctions
AbstractIf the value cumulative distribution functions are log-concave at the highest lower extremity of their supports, a simple geometric argument establishes the uniqueness of the equilibrium of the first-price auction in the asymmetric independent private value model.
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Bibliographic InfoPaper provided by York University, Department of Economics in its series Working Papers with number 2004_2.
Length: 48 pages
Date of creation: 2004
Date of revision:
Find related papers by JEL classification:
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
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