Bidding in a possibly common-value auction

B-Tier
Journal: Games and Economic Behavior
Year: 2010
Volume: 70
Issue: 2
Pages: 494-501

Authors (2)

Fong, Yuk-fai (not in RePEc) Garrett, Daniel F. (University of Essex)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

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

Abstract

We analyze a second-price auction with two bidders in which only one of the bidders is informed as to whether the object is valued commonly. We show that any equilibrium strategy of the bidder who is uninformed must be part of an equilibrium when both bidders instead know that the auction is not common value, regardless of the way in which the values are different. We derive sufficient conditions for equilibrium existence.

Technical Details

RePEc Handle
repec:eee:gamebe:v:70:y:2010:i:2:p:494-501
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25