IDEAS home Printed from https://ideas.repec.org/a/spr/joecth/v12y1998i2p227-258.html
   My bibliography  Save this article

Multi-unit auctions with uniform prices

Author

Listed:
  • Richard Engelbrecht-Wiggans

    (Department of Business Administration, University of Illinois, Urbana, Champaign, IL 61820, USA)

  • Charles M. Kahn

    (Department of Finance, University of Illinois, Urbana, Champaign, IL 61820, USA)

Abstract

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.

Suggested Citation

  • Richard Engelbrecht-Wiggans & Charles M. Kahn, 1998. "Multi-unit auctions with uniform prices," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 12(2), pages 227-258.
  • Handle: RePEc:spr:joecth:v:12:y:1998:i:2:p:227-258
    Note: Received: July 31, 1995; revised version: May 28, 1997
    as

    Download full text from publisher

    File URL: http://link.springer.de/link/service/journals/00199/papers/8012002/80120227.pdf
    Download Restriction: Access to the full text of the articles in this series is restricted

    File URL: http://link.springer.de/link/service/journals/00199/papers/8012002/80120227.ps.gz
    Download Restriction: Access to the full text of the articles in this series is restricted

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. 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). General contact details of provider: http://www.springer.com .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.