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Efficiency in auctions with crossholdings

  • David Ettinger

    ()

    (LEDa - Laboratoire d'Economie de Dauphine - Université Paris IX - Paris Dauphine, CEREMADE - CEntre de REcherches en MAthématiques de la DEcision - CNRS : UMR7534 - Université Paris IX - Paris Dauphine)

We study the impact of crossholdings on the efficiency of the standard auction formats. The ascending auction is not equivalent to the second-price auction. In a class of examples, the ascending auction is the only efficient standard auction format.

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Paper provided by HAL in its series Post-Print with number hal-00702434.

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Date of creation: 2003
Date of revision:
Publication status: Published, Applied Economics Letters, 2003, 80, 1, 1-7
Handle: RePEc:hal:journl:hal-00702434
Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00702434
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  1. David Ettinger, 2008. "Auctions and shareholdings," Post-Print hal-00701303, HAL.
  2. Reynolds, Robert J. & Snapp, Bruce R., 1986. "The competitive effects of partial equity interests and joint ventures," International Journal of Industrial Organization, Elsevier, vol. 4(2), pages 141-153, June.
  3. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September.
  4. Gopal Das Varma, 2002. "Standard Auctions with Identity-Dependent Externalities," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 689-708, Winter.
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