Arbeitspapier
Information acquisition during a Dutch auction
In this paper we consider equilibrium behavior in a Dutch (descending price) auction when the bidders that are uninformed of their valuations with probability q and can acquire information about their valuation with a positive cost during the auction. We assume that the information acquisition activity is covert. We characterize the equilibrium behavior in the setting where bidders are ex ante symmetric and have independent private values. We show that when the number of bidders is large the Dutch auction produces more revenue than the first price auction.
- ISBN
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978-952-462-791-7
- Language
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Englisch
- Bibliographic citation
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Series: Bank of Finland Research Discussion Papers ; No. 8/2012
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
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Miettinen, Paavo
- Event
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Veröffentlichung
- (who)
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Bank of Finland
- (where)
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Helsinki
- (when)
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2012
- Handle
- Last update
- 10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Miettinen, Paavo
- Bank of Finland
Time of origin
- 2012
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Yrityskyselyt maksutasetilaston laadinnassa
Information acquisition during a Dutch auction
Information acquisition during a descending price auction with asymmetrically informed players
Productive efficiency in Finnish local banking during 1985-1990
Central bank liquidity auction mechanism design and the interbank market
A note on interest rate policy during the Great Depression
Domestic banks as lightning rods? Home bias and information during Eurozone crisis
Money-market segmentation in the euro area: what has changed during the turmoil?
Central bank liquidity during the financial market and economic crisis: observations, thoughts and questions
Information acquisition and learning from prices over the business cycle
European household and business expectations during COVID-19: Towards a v-shaped recovery in confidence?
Factors affecting asset price expectations: Fundamentals and policy
Yrityskyselyt maksutasetilaston laadinnassa
Information acquisition during a Dutch auction
Information acquisition during a descending price auction with asymmetrically informed players
Productive efficiency in Finnish local banking during 1985-1990
Central bank liquidity auction mechanism design and the interbank market
A note on interest rate policy during the Great Depression
Domestic banks as lightning rods? Home bias and information during Eurozone crisis
Money-market segmentation in the euro area: what has changed during the turmoil?
Central bank liquidity during the financial market and economic crisis: observations, thoughts and questions
Information acquisition and learning from prices over the business cycle
European household and business expectations during COVID-19: Towards a v-shaped recovery in confidence?
Factors affecting asset price expectations: Fundamentals and policy