The Competitiveness of Joint Bidding in Multiple-Unit Uniform-Price Auctions
Recent literature on joint bidding in a single-unit, common-value (CV) auction argues it enhances competition. Information pooling mitigates the adverse selection and thus elevates bidding and may even increase revenue despite the reduction in the number of bidders. I analyze joint bidding in a simple CV, uniform-price auction with multiple-unit demand, which introduces an opposite force due to (increased) monopsony power of the joint bidders, called demand reduction (DR). We show that even when DR is disallowed, the pro-competitive benefit from joint bidding in single-unit auctions does not generalize to a multiple-unit environment. With DR, the scope for improved competition is further eroded.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 35 (2004)
Issue (Month): 2 (Summer)
|Contact details of provider:|| Web page: http://www.rje.org|
|Order Information:||Web: https://editorialexpress.com/cgi-bin/rje_online.cgi|
When requesting a correction, please mention this item's handle: RePEc:rje:randje:v:35:y:2004:2:p:373-385. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.