Auctions with endogenous valuations: the snowball effect revisited
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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Volume (Year): 13 (1999)
Issue (Month): 2 ()
|Note:||Received: March 14, 1997; revised version: December 1, 1997|
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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ashenfelter, Orley, 1989. "How Auctions Work for Wine and Art," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 23-36, Summer.
- Pitchik, Carolyn, 2009.
"Budget-constrained sequential auctions with incomplete information,"
Games and Economic Behavior,
Elsevier, vol. 66(2), pages 928-949, July.
- Carolyn Pitchik, 1989. "Budget-Constrained Sequential Auctions With Incomplete Information," STICERD - Theoretical Economics Paper Series 201, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
- Carolyn Pitchik, 2008. "Budget-Constrained Sequential Auctions with Incomplete Information," Working Papers tecipa-342, University of Toronto, Department of Economics.
- Carolyn Pitchik, 2006. "Budget-Constrained Sequential Auctions with Incomplete Information," Working Papers tecipa-230, University of Toronto, Department of Economics.
- Eric S. Maskin & John G. Riley, 1981. "Multi-unit Auctions, Price Discrimination and Bundling," UCLA Economics Working Papers 201, UCLA Department of Economics.
- B. Douglas Bernheim & Michael D. Whinston, 1986. "Menu Auctions, Resource Allocation, and Economic Influence," The Quarterly Journal of Economics, Oxford University Press, vol. 101(1), pages 1-31.
- repec:fth:harver:1484 is not listed on IDEAS Full references (including those not matched with items on IDEAS)