Fischer, Sven; Guth, Werner; Kaplan, Todd; Zultan, Roi - Volkswirtschaftliche Fakultät, … - 2014
We study first- and second-price private value auctions with sequential bidding where second movers may discover the first movers bids. There is a unique equilibrium in the first-price auction and multiple equilibria in the second-price auction. Consequently, comparative statics across price...