학술저널
Interdependent Value Auctions with an Insider Bidder
- 서울대학교 경제연구소
- Seoul Journal of Economics
- Seoul Journal of Economics Volume 29 No.2
-
2016.06151 - 163 (13 pages)
- 28
We study the efficiency of standard auctions with interdependent values in which one of two bidders is perfectly informed of his value while the other is partially informed. The second-price auction, as well as English auction, has a unique ex-post equilibrium that yields efficient allocation. By contrast, the first-price auction has no efficient equilibrium.
I. Introduction
II. Model
III. Analysis
IV. Concluding Remarks
References
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