Arbeitspapier
Asymptotic Efficiency for Discriminatory Private Value Auctions
We consider discriminatory auctions for multiple identical units of a good. Players have private values, possibly for multiple units. None of the usual assumptions about symmetry of players' distributions over values or of their equilibrium play are made. Because of this, equilibria will typically involve inefficiency: objects may not end up in the hands of those who value them most. We show that, none the less, such auctions become arbitrarily close to efficient as the number of players, and possibly the number of objects, grows large.
- Language
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Englisch
- Bibliographic citation
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Series: Discussion Paper ; No. 1173
- Classification
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Wirtschaft
Noncooperative Games
Auctions
Asymmetric and Private Information; Mechanism Design
- Event
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Geistige Schöpfung
- (who)
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Swinkels, Jeroen M.
- Event
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Veröffentlichung
- (who)
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Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science
- (where)
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Evanston, IL
- (when)
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1996
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
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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
- Swinkels, Jeroen M.
- Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science
Time of origin
- 1996
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Discriminatory price auctions with resale and optimal quantity caps
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Asymptotic efficiency of semiparametric two-step GMM
Value bounds and best response violations in discriminatory share auctions
Discriminatory versus uniform-price auctions
Mixed Strategies in Discriminatory Divisible-good Auctions
Discriminatory auctions with seller discretion: evidence from German treasury auctions
Discriminatory auctions with seller discretion : evidence from German treasury auctions
Auctions with Variable Supply: Uniform Price versus Discriminatory
Uniform vs. discriminatory auctions with variable supply : experimental evidence
Discriminatory price auctions with resale and optimal quantity caps
Uniform vs. Discriminatory Auctions with Variable Supply - Experimental Evidence
Discriminatory consequences of non-discriminatory standards
Evolution towards asymptotic efficiency, preliminary version