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Impact of second-order uncertainty on the efficiency of the 0.5-double auction

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  • Rong, Kang

Abstract

This paper studies the impact of second-order uncertainty on the (ex-post) efficiency of the 0.5-double auction. We consider a discrete double auction model in which the seller’s valuation is either v¯s or v¯s and the buyer’s valuation is either v¯b or v¯b with 0=v¯s

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  • Rong, Kang, 2013. "Impact of second-order uncertainty on the efficiency of the 0.5-double auction," Mathematical Social Sciences, Elsevier, vol. 65(1), pages 67-71.
    • Handle: RePEc:eee:matsoc:v:65:y:2013:i:1:p:67-71
    DOI: 10.1016/j.mathsocsci.2012.08.001
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