We provide a natural setting in privatizations in which the equilibrium of the first price auction gives greater expected surplus than any equilibrium of the open ascending auction.
On the efficiency of the first price auction
Michelucci F.
2017-01-01
Abstract
We provide a natural setting in privatizations in which the equilibrium of the first price auction gives greater expected surplus than any equilibrium of the open ascending auction.File in questo prodotto:
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