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This paper introduces a new class of games, highway games, which arise from situations where there is a common resource that agents will jointly use. That resource is an ordered set of several indivisible sections, where each section has an associated fixed cost and each agent requires some...
Persistent link: https://www.econbiz.de/10010662516
This paper studies the sales of a single indivisible object where bidders have continuous valuations. In Grigorieva et al. [14] it was shown that, in this setting, query auctions necessarily allocate inefficiently in equilibrium. In this paper we propose a new sequential auction, called the...
Persistent link: https://www.econbiz.de/10011052488
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In this paper, we analyze equilibria in competitive environments under constraints across players' strategies. This means that the action taken by one player limits the possible choices of the other players. In this context, the usual approach to show existence of equilibrium, Kakutani's fixed...
Persistent link: https://www.econbiz.de/10005240519
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