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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- Stephen Morris & Hanming Fang, 2004. "Multidimensional Private Value Auctions," Yale School of Management Working Papers ysm387, Yale School of Management.
- Stephen Morris & Hanming Fang, 2004. "Multidimensional Private Value Auctions," Econometric Society 2004 North American Winter Meetings 174, Econometric Society.
- Hanming Fang, 2004. "Multidimensional Private Value Auctions," Theory workshop papers 121473000000000021, UCLA Department of Economics.
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