Informational Size and Efficient Auctions

S-Tier
Journal: Review of Economic Studies
Year: 2004
Volume: 71
Issue: 3
Pages: 809-827

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We develop an auction model for the case of interdependent values and multidimensional signals in which agents' signals are correlated. We provide conditions under which a modification of the Vickrey auction which includes payments to the bidders will result in an ex post efficient outcome. Furthermore, we provide a definition of informational size such that the necessary payments to bidders will be arbitrarily small if agents are sufficiently informationally small. Copyright 2004, Wiley-Blackwell.

Technical Details

RePEc Handle
repec:oup:restud:v:71:y:2004:i:3:p:809-827
Journal Field
General
Author Count
2
Added to Database
2026-01-26