In a recurring auction early bids may reveal bidders' types, which in turn affects bidding in later auctions. Bidders take this into account and may bid in a way that conceals their private information until the last auction is played. The present paper analyzes the equilibrium of a sequence of...

We consider auction games where, prior to the auction, bidders spend resources to increase to their valuations. The market game is solved by solving an equivalent auxiliary social choice problem, We show that standard auctions are fully efficient, whereas reserve price requirements entail a...