Monotone equilibrium in multi-unit auctions
Publication
, Journal Article
McAdams, D
Published in: Review of Economic Studies
October 1, 2006
In two-sided multi-unit auctions having a variety of payment rules, including uniform-price and discriminatory auctions, a monotone pure-strategy equilibrium (MPSE) exists when bidders are risk neutral with independent multi-dimensional types and interdependent values. In fact, all mixed-strategy equilibria are ex post allocation and interim expected payment equivalent to MPSE. Thus, for standard expected surplus/ revenue analysis, there is no loss restricting attention to monotone strategies. © 2006 The Review of Economic Studies Limited.
Duke Scholars
Published In
Review of Economic Studies
DOI
EISSN
1467-937X
ISSN
0034-6527
Publication Date
October 1, 2006
Volume
73
Issue
4
Start / End Page
1039 / 1056
Related Subject Headings
- Economics
- 3803 Economic theory
- 3802 Econometrics
- 3801 Applied economics
- 14 Economics
Citation
APA
Chicago
ICMJE
MLA
NLM
McAdams, D. (2006). Monotone equilibrium in multi-unit auctions. Review of Economic Studies, 73(4), 1039–1056. https://doi.org/10.1111/j.1467-937X.2006.00407.x
McAdams, D. “Monotone equilibrium in multi-unit auctions.” Review of Economic Studies 73, no. 4 (October 1, 2006): 1039–56. https://doi.org/10.1111/j.1467-937X.2006.00407.x.
McAdams D. Monotone equilibrium in multi-unit auctions. Review of Economic Studies. 2006 Oct 1;73(4):1039–56.
McAdams, D. “Monotone equilibrium in multi-unit auctions.” Review of Economic Studies, vol. 73, no. 4, Oct. 2006, pp. 1039–56. Scopus, doi:10.1111/j.1467-937X.2006.00407.x.
McAdams D. Monotone equilibrium in multi-unit auctions. Review of Economic Studies. 2006 Oct 1;73(4):1039–1056.
Published In
Review of Economic Studies
DOI
EISSN
1467-937X
ISSN
0034-6527
Publication Date
October 1, 2006
Volume
73
Issue
4
Start / End Page
1039 / 1056
Related Subject Headings
- Economics
- 3803 Economic theory
- 3802 Econometrics
- 3801 Applied economics
- 14 Economics