Large multi-unit auctions with a large bidder

A-Tier
Journal: Journal of Economic Theory
Year: 2018
Volume: 174
Issue: C
Pages: 1-15

Score contribution per author:

2.011 = (α=2.01 / 2 authors) × 2.0x A-tier

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

Abstract

We compare equilibrium bidding in uniform-price and discriminatory auctions when a single large bidder (i.e., with multi-unit demand) competes against many small bidders, each with single-unit demands. We show that the large bidder prefers the discriminatory auction over the uniform-price auction, and we provide general conditions under which small bidders have the reverse preference. We use examples to show that the efficiency and revenue rankings of the two auctions are ambiguous.

Technical Details

RePEc Handle
repec:eee:jetheo:v:174:y:2018:i:c:p:1-15
Journal Field
Theory
Author Count
2
Added to Database
2026-01-24