Information Variability Impacts in Auctions

A wide variety of auction models exhibit close relationships between the winner's expected profit and the expected difference between the highest and second-highest order statistics of bidders' information, and between expected revenue and the second-highest order statistic of bidders' expected asset values. We use stochastic orderings to see when greater environmental variability of bidders' information enhances expected profit and expected revenue.

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Year of publication:	2009-06-15
Authors:	Harstad, Ronald M. ; Rothkopf, Michael H. ; Jia, Justin
Institutions:	Economics Department, University of Missouri
Subject:	affiliated-values auctions \| auction revenue \| number of bidders \| increased competition \| endegenous bidder participation

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 0908 9 pages longpgs.
Classification:	D44 - Auctions ; D82 - Asymmetric and Private Information ; C72 - Noncooperative Games
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008474161