Onderstal, Sander; Englmaier, Florian; Guillén, Pablo; … - 2004
Multi-unit auctions are sometimes plagued by the so-called exposure problem. In this paper, we analyze a simple game … called the chopstick auction' in which bidders are confronted with the exposure problem. We analyze the chopstick auction … efficient equilibrium and is revenue equivalent with the second-price sealed-bid auction in which the exposure problem is not …