Retaliatory Equilibria in a Japanese Ascending Auction for Multiple Objects
We construct a family of retaliatory equilibria for the Japanese ascending auction for multiple objects and show that, while it is immune to many of the tacitly collusive equilibria studied in the literature, it is not entirely immune when some bidders are commonly known to be interested in a specific object.
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Volume (Year): 10 (2006)
Issue (Month): 1 (April)
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References listed on IDEAS
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99-05, New York University, Leonard N. Stern School of Business, Department of Economics.
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- Peter Cramton & Jesse Schwartz, 2002.
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02collude, University of Maryland, Department of Economics - Peter Cramton, revised 04 Dec 2002.
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