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Starategic Implications of Uncertainty Over One's Own Private Value in Auctions

Author

Listed:
  • Eric B. Rasmusen

    (Kelley School of Business, Indiana University and CIRJE, Faculty of Economics, University of Tokyo)

Abstract

Bidders have to decide whether and when to incur the cost of estimating their own values in auctions. This can explain sniping - flurries of bids late in auctions with deadlines - as the result of bidders trying to avoid stimulating other bidders into examining their bid ceiling more carefully.

Suggested Citation

  • Eric B. Rasmusen, 2001. "Starategic Implications of Uncertainty Over One's Own Private Value in Auctions," CIRJE F-Series CIRJE-F-127, CIRJE, Faculty of Economics, University of Tokyo.
    • Handle: RePEc:tky:fseres:2001cf127
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    File URL: http://www.cirje.e.u-tokyo.ac.jp/research/dp/2001/2001cf127.pdf
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    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions

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