Jump bidding and overconcentration in decentralized simultaneous ascending auctions

B-Tier
Journal: Games and Economic Behavior
Year: 2012
Volume: 76
Issue: 2
Pages: 648-664

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

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

Abstract

A model of English auctions is proposed to incorporate the possibility of jump bidding. When two objects are sold separately via such auctions, bidders signal their willingness to pay via jump bids, thereby forming rational expectations of the prices without relying on any central mediator. Hence a multi-item bidder does not suffer the exposure problem of having to buy an item while he is uncertain about the price of its complement. Single-item bidders, however, free-ride one another in competing against a multi-item bidder. Consequently, the auctions overly concentrate the goods to a multi-item bidder and never overly diffuse them to single-item bidders.

Technical Details

RePEc Handle
repec:eee:gamebe:v:76:y:2012:i:2:p:648-664
Journal Field
Theory
Author Count
1
Added to Database
2026-01-29