Characterization of Bidding Behavior in Multi-Unit
This paper provides first order conditions for a very general class of single or multi-unit auctions. Under mild conditions we characterize bidding-behavior and generalize previous standard results in the literature. As an application we obtain sufficient conditions for truth-telling, monotonic best reply strategies and identification results for multi-unit auctions.
|Date of creation:||09 Nov 2007|
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- Araujo, Aloisio & de Castro, Luciano I., 2009.
"Pure strategy equilibria of single and double auctions with interdependent values,"
Games and Economic Behavior,
Elsevier, vol. 65(1), pages 25-48, January.
- Castro, Luciano I. de & Araujo, Aloisio, 2006. "Pure strategy equilibria of single and double auctions with interdependent values," UC3M Working papers. Economics we065320, Universidad Carlos III de Madrid. Departamento de Economía.
- Vijay Krishna & John Morgan, 1994.
"An Analysis of the War of Attrition and the All-Pay Auction,"
Game Theory and Information
- Krishna, Vijay & Morgan, John, 1997. "An Analysis of the War of Attrition and the All-Pay Auction," Journal of Economic Theory, Elsevier, vol. 72(2), pages 343-362, February.
- Robert Wilson, 1979. "Auctions of Shares," The Quarterly Journal of Economics, Oxford University Press, vol. 93(4), pages 675-689.
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