Monotone Equilibrium in Multi-Unit Auctions

S-Tier
Journal: Review of Economic Studies
Year: 2006
Volume: 73
Issue: 4
Pages: 1039-1056

Score contribution per author:

8.043 = (α=2.01 / 1 authors) × 4.0x S-tier

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

Abstract

In two-sided multi-unit auctions having a variety of payment rules, including uniform-price and discriminatory auctions, a monotone pure-strategy equilibrium (MPSE) exists when bidders are risk neutral with independent multi-dimensional types and interdependent values. In fact, all mixed-strategy equilibria are ex post allocation and interim expected payment equivalent to MPSE. Thus, for standard expected surplus/revenue analysis, there is no loss restricting attention to monotone strategies. Copyright 2006, Wiley-Blackwell.

Technical Details

RePEc Handle
repec:oup:restud:v:73:y:2006:i:4:p:1039-1056
Journal Field
General
Author Count
1
Added to Database
2026-01-26