TITLE

Comparing first and second price auctions with asymmetric bidders

AUTHOR(S)
Mares, Vlad; Swinkels, Jeroen
PUB. DATE
August 2014
SOURCE
International Journal of Game Theory;Aug2014, Vol. 43 Issue 3, p487
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
We study procurement auctions in which, as is common in practice, a group of sellers (incumbents, qualified bidders) is given an advantage, based, for example, on better reliability, quality, or incumbency status. We show conditions under which for any given first price handicap auction, there is a simple second-price design which dominates it. This generalizes a previous result for the case of an auction with one insider and one outsider (Mares and Swinkels in J Econ Theory, ) and sharpens our understanding of the classical result by Maskin and Riley (Rev Econ Stud 67:413-438, ).
ACCESSION #
96927597

 

Related Articles

  • MARKET ENTRY, PRODUCT QUALITY AND PRICE COMPETITION. MATHUR, Sameer; DEWANI, Prakash Prem // Studies in Business & Economics;2015, Vol. 10 Issue 2, p62 

    We study an entrant firm's product quality choice and the price competition arising between the entrant and the incumbent firm. We show that the entrant firm should introduce a relatively higher (lower) quality than the incumbent firm when the consumers' valuation for quality is sufficiently...

  • An Empirical Analysis of Price, Quality, and Incumbency in Procurement Auctions. Tunca, Tunay I.; Wu, D. J.; Zhong, Fang (Vivian) // Manufacturing & Service Operations Management;Summer2014, Vol. 16 Issue 3, p346 

    The use of multiattribute auctions for procurement of products and services when both price and quality matter is becoming more frequent. Such auctions often employ scoring rules and are open ended in winner determination. Yet there is a significant gap in the literature on the efficiency of...

  • FOREGONE CONCLUSIONS?  // City & State;10/28/2014, p25 

    No abstract available.

  • Multiagent System Simulations of Treasury Auctions. Mehlenbacher, Alan // Computational Economics;Aug2009, Vol. 34 Issue 1, p67 

    This study uses a multiagent system to determine which payment rule provides the most revenue in treasury auctions. The agents learn how to bid using straightforward bid adjustment rules that are based on impulse balance learning. The market model encompasses the when-issued, auction, and...

  • Incumbent Effects on Individual-Level Voting Behavior in Congressional Elections: A Decade of Exaggeration. Eubank, Robert B. // Journal of Politics;Aug85, Vol. 47 Issue 3, p958 

    Discusses the changes in individual-level voting behavior for congressional elections involving incumbents. Statistics concerning defection toward incumbents; Information on the pro-incumbent bias within the 1978 and 1980 election surveys.

  • Highest paid local elected officals.  // Fairfield County Business Journal;95-96 Book of Lists, Vol. 34 Issue 52, p112 

    Presents a list of the highest paid local elected officials in Fairfield County. Town of New Canaan; City of Norwalk; City of Stamford.

  • Inter-party competition, intra-party competition, and distributive policy: A model and test using New Deal data. Fleck, Robert K. // Public Choice;Jul2001, Vol. 108 Issue 1/2, p77 

    Presents a study which proposed a theoretical model examining the influence of loyal and swing voters on the allocation of benefits by a reelection-seeking incumbent. Description of both types of voters; Purpose of the model; Data used to test the model's predictions.

  • Correction.  // American Spectator;Jun2012, Vol. 45 Issue 5, p11 

    A correction to the article "Incumbency Shakers" that was published in the May 2012 issue is presented.

  • Hell no, we won't go! California's local pols confront term limits. Fay, James; Christman, Roy // National Civic Review;Winter/Spring94, Vol. 83 Issue 1, p54 

    Analyzes trends in incumbency limits in California's local government office holders. Decrease in incumbency rates in female government officials since the 1980s; Suggestions of the disproportionate effects of term limits on women and minorities in the state's local government; Policy question...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics