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When bidders are not substitutes, we show that there is no standard ascend-ing auction that implements a bidder-optimal competitive equilibrium under truthful bidding. Such an impossibility holds also in environments where the Vickrey payoff vector is a competitive equilibrium payoff and is thus...
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In the symmetric independent private value model, we revisit auctions with entry by adding two additional ingredients: difficulties to commit to the announced mechanism, in particular not to update the reserve price after bidders took their entry decisions, and seller's ex ante uncertainty on...
Persistent link: https://www.econbiz.de/10010739022
This paper considers the implementation of an economic outcome under complete information when the strategic and informational details of the participation game are partially-specified. This means that full participation is required to be a subgame-perfect equilibrium for a large variety of...
Persistent link: https://www.econbiz.de/10010739083
We consider standard auction models when bidders' identities are not observed by the econometrician. First, we adapt the definition of identifiability to a framework with anonymous bids and we explore the extent to which anonymity reduces the possibility to identify private value auction models....
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We introduce contingent auction mechanisms, which is a superset of combinatorial auctions, and where bidders submit bids on packages that are contingent on the whole final assignment. Without externalities, the Vickrey and the Ausubel-Milgrom Proxy Auction are both robust if items are perceived...
Persistent link: https://www.econbiz.de/10011082091