Uniqueness of the Equilibrium in First-Price Auctions

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Uniqueness of the Equilibrium in First-Price Auctions

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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, 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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Paper provided by York University, Department of Economics in its series Working Papers with number 2004_2.

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Length: 48 pages
Date of creation: 2004
Date of revision:
Handle: RePEc:yca:wpaper:2004_2

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D44 - Microeconomics - - Market Structure and Pricing - - - Auctions

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-80, January. [Downloadable!] (restricted)
Other versions:
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Bagnoli, M. & Bergstrom, T., 1989. "Log-Concave Probability And Its Applications," Papers 89-23, Michigan - Center for Research on Economic & Social Theory.
Other versions:
- Mark Bagnoli & Ted Bergstrom, 2004. "Log-concave Probability and its Applications," University of California at Santa Barbara, Economics Working Paper Series 1989D, Department of Economics, UC Santa Barbara. [Downloadable!]
- Mark Bagnoli & Ted Bergstrom, 2005. "Log-concave probability and its applications," Economic Theory, Springer, vol. 26(2), pages 445-469, 08. [Downloadable!] (restricted)
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. [Downloadable!] (restricted)
Other versions:
- Robert H. Porter & J. Douglas Zona, 1997. "Ohio School Milk Markets: An Analysis of Bidding," NBER Working Papers 6037, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Kenneth Hendricks & Robert Porter, 1989. "Collusion in Auctions," Discussion Papers 817, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
Other versions:
- Kenneth Hendricks & Robert H. Porter, 1989. "Collusion in Auctions," Annales d'Economie et de Statistique, ADRES, issue 15-16, pages 11, Juillet-D. [Downloadable!]
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. [Downloadable!] (restricted)
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 861-89, July.
Other versions:
- Athey, S., 1997. "Sigle Crossing Properties and the Existence of Pure Strategy Equilibria in Games of Incomplete Information," Working papers 97-11, Massachusetts Institute of Technology (MIT), Department of Economics.
An, Mark Yuying, 1998. "Logconcavity versus Logconvexity: A Complete Characterization," Journal of Economic Theory, Elsevier, vol. 80(2), pages 350-369, June. [Downloadable!] (restricted)
Other versions:
- An, Mark Yuying, 1995. "Logconcavity versus Logconvexity: A Complete Characterization," Working Papers 95-03, Duke University, Department of Economics.

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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Bernard Lebrun, 2006. "Auctions with Almost Homogeneous Bidders," Working Papers 2006_7, York University, Department of Economics. [Downloadable!]

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This page was last updated on 2009-11-23.

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