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Uniqueness of the Equilibrium in First-Price Auctions

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  • Bernard Lebrun

    (Department of Economics, York University)

Abstract

If the value cumulative distribution functions are log-concave at the highest lower extremity of their supports, a simple geometric argument establishes the uniqueness of the equilibrium of the first-price auction in the asymmetric independent private value model.

Suggested Citation

  • Bernard Lebrun, 2004. "Uniqueness of the Equilibrium in First-Price Auctions," Working Papers 2004_2, York University, Department of Economics.
  • Handle: RePEc:yca:wpaper:2004_2
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    File URL: http://econ.yorku.ca/research/workingPapers/working_papers/2004/lebrunb-u.pdf
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    References listed on IDEAS

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    More about this item

    JEL classification:

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

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