Efficiency in auctions with crossholdings
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.
|Date of creation:||2003|
|Date of revision:|
|Publication status:||Published in Applied Economics Letters, Taylor & Francis (Routledge): SSH Titles, 2003, 80 (1), pp.1-7|
|Note:||View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00702434|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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- Milgrom, Paul R & Weber, Robert J, 1982.
"A Theory of Auctions and Competitive Bidding,"
Econometric Society, vol. 50(5), pages 1089-1122, September.
- repec:adr:anecst:y:2008:i:90:p:09 is not listed on IDEAS
- Gopal Das Varma, 2002. "Standard Auctions with Identity-Dependent Externalities," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 689-708, Winter.
- 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.
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