A nearly optimal auction for an uninformed seller

C-Tier
Journal: Economics Letters
Year: 2014
Volume: 122
Issue: 3
Pages: 396-399

Authors (2)

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

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

Abstract

This paper describes a nearly optimal auction mechanism that does not require previous knowledge of the distribution of values of potential buyers. The mechanism we propose builds on the new literature on the elicitation of information from experts. We extend the latter to the case where the secret information shared by the experts–potential buyers in our model–can be used against them if it becomes public knowledge.

Technical Details

RePEc Handle
repec:eee:ecolet:v:122:y:2014:i:3:p:396-399
Journal Field
General
Author Count
2
Added to Database
2026-01-29