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Competitive limit of competing auctions

Author

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  • Ma, Zizhen
  • Riquelme, Nicolás

Abstract

We study the link between strategic equilibria of competing auctions and the “competitive distribution of auctions” (Peters, 1997). With minimal restrictions on each seller’s possible costs and feasible reserve prices, we show that as the number of players increases to infinity while fixing a positive buyer-to-seller ratio, symmetric perfect Bayesian equilibria of finite markets converge to the competitive equilibrium of the large market.

Suggested Citation

  • Ma, Zizhen & Riquelme, Nicolás, 2026. "Competitive limit of competing auctions," Games and Economic Behavior, Elsevier, vol. 158(C), pages 367-382.
    • Handle: RePEc:eee:gamebe:v:158:y:2026:i:c:p:367-382
    DOI: 10.1016/j.geb.2026.03.015
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    Keywords

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    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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