Multi-unit auctions with uniform prices
Auctions in which individuals can purchase more than one unit of the good being sold differ in striking ways from multi-unit auctions in which individuals may purchase only one unit. The uniform price auction in particular frequently yields Nash equilibria in which bidders underbid for their second unit and therefore pay very low prices for the good. This paper characterizes equilibria for the uniform price auction.
Volume (Year): 12 (1998)
Issue (Month): 2 ()
|Note:||Received: July 31, 1995; revised version: May 28, 1997|
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/199/PS2|
When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:12:y:1998:i:2:p:227-258. 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: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.