SEQUENTIAL AUCTIONS WITH SYNERGIES - AN EXAMPLE

Authors
BRANCO F
Citation
F. Branco, SEQUENTIAL AUCTIONS WITH SYNERGIES - AN EXAMPLE, Economics letters, 54(2), 1997, pp. 159-163
Citations number
12
Categorie Soggetti
Economics
Journal title
Economics letters → ACNP
ISSN journal
01651765
Volume
54
Issue
2
Year of publication
1997
Pages
159 - 163
Database
ISI
SICI code
0165-1765(1997)54:2<159:SAWS-A>2.0.ZU;2-Y
Abstract
An equilibrium in an example of a two unit sequential ascending price auction where some bidders have superadditive values is presented. The equilibrium is in pure strategies. In equilibrium the expected price declines from the first to the second auction.