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First-Price Auctions: Extensions

In: Auction Theory

Author

Listed:
  • Pak-Sing Choi

    (National Central University)

  • Felix Munoz-Garcia

    (Washington State University)

Abstract

This chapter applies the analysis of equilibrium bidding behavior in first-price auctions from Chap. 2 to answer different questions. In Exercise 3.1, we measure the seller’s expected revenue in this auction format when bidders draw their valuations from a generic distribution function and then evaluate this expected revenue in the case that bidders’ valuations are uniformly distributed.

Suggested Citation

  • Pak-Sing Choi & Felix Munoz-Garcia, 2021. "First-Price Auctions: Extensions," Springer Texts in Business and Economics, in: Auction Theory, chapter 3, pages 63-123, Springer.
  • Handle: RePEc:spr:sptchp:978-3-030-69575-0_3
    DOI: 10.1007/978-3-030-69575-0_3
    as

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