Optimal search auctions with correlated bidder types
We study optimal auctions when contacting prospective bidders is costly and the biddersï¾’ values are correlated. Although full surplus extraction is in general impossible, we can construct a search mechanism that fully extracts the surplus with an arbitrarily high probability.
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- Ye Lixin, 2004. "Optimal Auctions with Endogenous Entry," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 4(1), pages 1-29, October.
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- Jacques Cremer & Yossi Spiegel & Charles Z. Zheng, 2005. "Optimal Search Auctions," Discussion Papers 1421, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Burguet, Roberto, 1996. "Optimal Repeated Purchases When Sellers Are Learning about Costs," Journal of Economic Theory, Elsevier, vol. 68(2), pages 440-455, February.
- Dirk Bergemann & Juuso Valimaki, 2002.
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- Dirk Bergemann & Juuso Vaimaki, 2000. "Information Acquisition and Efficient Mechanism Design," Cowles Foundation Discussion Papers 1248, Cowles Foundation for Research in Economics, Yale University.
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