The Herodotus Paradox

The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for the twoplayer case with complete and incompete information, and in so doing identify what we call the Herodotus Paradox.

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Year of publication:	2010
Authors:	Baye, Michael R. ; Kovenock, Dan ; de Vries, Casper G.
Publisher:	Amsterdam and Rotterdam : Tinbergen Institute
Subject:	Auktionstheorie \| Unvollkommene Information \| Gleichgewicht \| Theorie \| second price \| transfer to loser

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Series:	Tinbergen Institute Discussion Paper ; 10-090/2
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	839809840 [GVK] hdl:10419/86756 [Handle] RePEc:dgr:uvatin:20100090 [RePEc]
Classification:	C72 - Noncooperative Games ; D44 - Auctions
Source:	EconStor

Persistent link: https://www.econbiz.de/10010325741