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Auctions with endogenous valuations: the snowball effect revisited

  • Kala Krishna

    ()

    (Department of Economics, Pennsylvania State University, Kern Graduate Building, University Park, PA 16802, USA)

This paper looks at the determination of ownership of capacity when there are two ex-ante symmetric agents bidding for many units of capacity which are sold sequentially. It is shown that convexity of payoffs in the final stage of the game is sufficient to ensure monopolization of capacity, but that increasing returns to scale are not sufficient to ensure monopolization.

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File URL: http://link.springer.de/link/service/journals/00199/papers/9013002/90130377.pdf
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Article provided by Springer in its journal Economic Theory.

Volume (Year): 13 (1999)
Issue (Month): 2 ()
Pages: 377-391

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Handle: RePEc:spr:joecth:v:13:y:1999:i:2:p:377-391
Note: Received: March 14, 1997; revised version: December 1, 1997
Contact details of provider: Web page: http://link.springer.de/link/service/journals/00199/index.htm

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References listed on IDEAS
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  1. Carolyn Pitchik, 2008. "Budget-Constrained Sequential Auctions with Incomplete Information," Working Papers tecipa-342, University of Toronto, Department of Economics.
  2. repec:fth:harver:1484 is not listed on IDEAS
  3. Eric S. Maskin & John G. Riley, 1981. "Multi-unit Auctions, Price Discrimination and Bundling," UCLA Economics Working Papers 201, UCLA Department of Economics.
  4. Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
  5. Bernheim, B Douglas & Whinston, Michael D, 1986. "Menu Auctions, Resource Allocation, and Economic Influence," The Quarterly Journal of Economics, MIT Press, vol. 101(1), pages 1-31, February.
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