Jeddy, Mohamed; Larue, Bruno - In: Economics Bulletin 32 (2012) 1, pp. 456-465
We show that the result on the existence of a unique Nash perfect equilibrium in two-bidder multi-unit sequential second-price auctions under complete information (as in Krishna, 1993; Katzman, 1999; and Gale and Stegeman, 2001) is not robust in higher dimensional auctions. Using an example featuring...