Properties of Scoring Auctions
This Paper studies scoring auctions, a procedure commonly used to buy differentiated products: suppliers submit offers on all dimensions of the good (price, level of non monetary attributes), and these are evaluated using a scoring rule. We provide a systematic analysis of equilibrium behaviour in scoring auctions when suppliers’ private information is multidimensional (characterization of equilibrium behaviour and expected utility equivalence) and show that scoring auctions dominate several other commonly used procedures for buying differentiated products.
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- de Frutos, Maria-Angeles & Pechlivanos, Lambros, 2006.
"Second-price common-value auctions under multidimensional uncertainty,"
Games and Economic Behavior,
Elsevier, vol. 55(1), pages 43-71, April.
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- Ewerhart, Christian & Fieseler, Karsten, 2003. " Procurement Auctions and Unit-Price Contracts," RAND Journal of Economics, The RAND Corporation, vol. 34(3), pages 569-581, Autumn.
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- Fang, Hanming & Morris, Stephen, 2006. "Multidimensional private value auctions," Journal of Economic Theory, Elsevier, vol. 126(1), pages 1-30, January.
- Hanming Fang & Stephen Morris, 2003. "Multidimensional Private Value Auctions," Cowles Foundation Discussion Papers 1423, Cowles Foundation for Research in Economics, Yale University.
- Stephen Morris & Hanming Fang, 2004. "Multidimensional Private Value Auctions," Econometric Society 2004 North American Winter Meetings 174, Econometric Society.
- Stephen Morris & Hanming Fang, 2004. "Multidimensional Private Value Auctions," Yale School of Management Working Papers ysm387, Yale School of Management.
- Hanming Fang, 2004. "Multidimensional Private Value Auctions," Theory workshop papers 121473000000000021, UCLA Department of Economics.
- Yeon-Koo Che & Ian Gale, 1998. "Standard Auctions with Financially Constrained Bidders," Review of Economic Studies, Oxford University Press, vol. 65(1), pages 1-21.
- Jean-Charles Rochet & Lars A. Stole, 2002. "Nonlinear Pricing with Random Participation," Review of Economic Studies, Oxford University Press, vol. 69(1), pages 277-311.
- Patrick Bajari & Stephanie Houghton & Steven Tadelis, 2004. "Bidding for Incompete Contracts," Working Papers 2004.141, Fondazione Eni Enrico Mattei. Full references (including those not matched with items on IDEAS)
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