contrast to the substantial overbidding found in common-value auctions, bidding in strategically equivalent common …

This paper studies a first‐price common‐value auction in which bidders do not know the number of their competitors. In … contrast to the case of common‐value auctions with a known number of rival bidders, the inference from winning is not monotone …

-price auctions, all-pay auctions, third-price auctions, the Revenue Equivalence principle, common-value auctions, multi-unit auctions … Auctions and Lotteries -- Chapter6: The Revenue Equivalence Principle -- Chapter7: Common Value Auctions -- Chapter8: Multi …