IDEAS home Printed from https://ideas.repec.org/p/cla/uclawp/407.html
   My bibliography  Save this paper

Existence and Uniqueness of Equilibrium in Sealed High Bid Auctions

Author

Listed:
  • Eric Maskin

    (UCLA)

  • John G. Riley

    (UCLA)

Abstract

No abstract is available for this item.

Suggested Citation

  • Eric Maskin & John G. Riley, 1986. "Existence and Uniqueness of Equilibrium in Sealed High Bid Auctions," UCLA Economics Working Papers 407, UCLA Department of Economics.
    • Handle: RePEc:cla:uclawp:407
    as

    Download full text from publisher

    File URL: http://www.econ.ucla.edu/workingpapers/wp407.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Maskin, Eric S & Riley, John G, 1984. "Optimal Auctions with Risk Averse Buyers," Econometrica, Econometric Society, vol. 52(6), pages 1473-1518, November.
    2. Milgrom, Paul R & Weber, Robert J, 1982. "A Theory of Auctions and Competitive Bidding," Econometrica, Econometric Society, vol. 50(5), pages 1089-1122, September.
    3. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lamping, Jennifer, 2008. "Ignorance Is Bliss: Matching in Auctions with an Uninformed Seller," MPRA Paper 24374, University Library of Munich, Germany.
    2. Lambrecht, Bart & Perraudin, William, 2003. "Real options and preemption under incomplete information," Journal of Economic Dynamics and Control, Elsevier, vol. 27(4), pages 619-643, February.
    3. Lamping, Jennifer, 2007. "The Value of Information in Auctions with Default Risk," MPRA Paper 24375, University Library of Munich, Germany.
    4. Myrna Wooders & Ben Zissimos, 2003. "Hotelling Tax Competition," CESifo Working Paper Series 932, CESifo.
    5. Baye, M.R. & Tian, G. & Zhou, J., 1990. "The Existence of Pure-Strategy Nash Equilibrium in Games with Payoffs that are Not Quasiconcave," Other publications TiSEM c48b610e-f502-4ed9-aafd-8, Tilburg University, School of Economics and Management.
    6. Fernando Branco, 1996. "Common value auctions with independent types," Review of Economic Design, Springer;Society for Economic Design, vol. 2(1), pages 283-309, December.
    7. Baye, Michael R. & Kovenock, Dan & de Vries, Casper G., 1992. "It takes two to tango: Equilibria in a model of sales," Games and Economic Behavior, Elsevier, vol. 4(4), pages 493-510, October.
    8. Philippe Bich & Rida Laraki, 2014. "On the Existence of Approximate Equilibria and Sharing Rule Solutions in Discontinuous Games," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01071678, HAL.
    9. Philippe Bich & Rida Laraki, 2014. "On the Existence of Approximate Equilibria and Sharing Rule Solutions in Discontinuous Games," Working Papers hal-01071678, HAL.
    10. Gustavo Rodríguez, 1997. "First price auctions: Monotonicity and uniqueness," Economics Working Papers 208, Department of Economics and Business, Universitat Pompeu Fabra.
    11. Drake, Samielle & Xu, Fei, 2023. "Regulation and Competition in Public Procurement," Umeå Economic Studies 1013, Umeå University, Department of Economics.
    12. Lu, Zhaoyang & Meng, Qiang, 2023. "Effects of asymmetric investment cost information on revenue-compensated build-operate-transfer highway contracts," Transportation Research Part B: Methodological, Elsevier, vol. 172(C), pages 71-92.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hu, Audrey & Offerman, Theo & Zou, Liang, 2011. "Premium auctions and risk preferences," Journal of Economic Theory, Elsevier, vol. 146(6), pages 2420-2439.
    2. Matthews, Steven, 1987. "Comparing Auctions for Risk Averse Buyers: A Buyer's Point of View," Econometrica, Econometric Society, vol. 55(3), pages 633-646, May.
    3. Christopher Boyer & B. Brorsen, 2014. "Implications of a Reserve Price in an Agent-Based Common-Value Auction," Computational Economics, Springer;Society for Computational Economics, vol. 43(1), pages 33-51, January.
    4. Quintero Jaramillo, Jose E., 2004. "Liquidity constraints and credit subsidies in auctions," DEE - Working Papers. Business Economics. WB wb040604, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    5. Peter M. DeMarzo & Ilan Kremer & Andrzej Skrzypacz, 2005. "Bidding with Securities: Auctions and Security Design," American Economic Review, American Economic Association, vol. 95(4), pages 936-959, September.
    6. Paarsch, Harry J., 1997. "Deriving an estimate of the optimal reserve price: An application to British Columbian timber sales," Journal of Econometrics, Elsevier, vol. 78(2), pages 333-357, June.
    7. Lebrun, Bernard, 1998. "Comparative Statics in First Price Auctions," Games and Economic Behavior, Elsevier, vol. 25(1), pages 97-110, October.
    8. Michel Mougeot & Pierre Malgrange, 2002. "Présentation générale," Économie et Prévision, Programme National Persée, vol. 156(5), pages 1-7.
    9. Hu, Youxin & Kagel, John & Xu, Xiaoshu & Ye, Lixin, 2013. "Theoretical and experimental analysis of auctions with negative externalities," Games and Economic Behavior, Elsevier, vol. 82(C), pages 269-291.
    10. Yonghong Long, 2009. "Bidders¡¯ Risk Preferences in Discriminative Auctions," Annals of Economics and Finance, Society for AEF, vol. 10(1), pages 215-223, May.
    11. Peter Cramton, 2002. "Spectrum Auctions," Papers of Peter Cramton 01hte, University of Maryland, Department of Economics - Peter Cramton, revised 16 Jul 2001.
    12. Matthew J. Clayton & S. Abraham Ravid, 1999. "The Effect of Leverage on Bidding Behavior: Theory and Evidence from the FCC Auctions," New York University, Leonard N. Stern School Finance Department Working Paper Seires 99-055, New York University, Leonard N. Stern School of Business-.
    13. Cox, James C. & Sadiraj, Vjollca, 2006. "Small- and large-stakes risk aversion: Implications of concavity calibration for decision theory," Games and Economic Behavior, Elsevier, vol. 56(1), pages 45-60, July.
    14. Chakraborty, Indranil, 2019. "Simultaneous vs. sequential auctions with risk averse bidders," Games and Economic Behavior, Elsevier, vol. 113(C), pages 209-222.
    15. Hon-Snir, Shlomit & Monderer, Dov & Sela, Aner, 1998. "A Learning Approach to Auctions," Journal of Economic Theory, Elsevier, vol. 82(1), pages 65-88, September.
    16. Ramanathan Subramaniam & R. Venkatesh, 2009. "Optimal Bundling Strategies in Multiobject Auctions of Complements or Substitutes," Marketing Science, INFORMS, vol. 28(2), pages 264-273, 03-04.
    17. Crawford, Vincent P. & Kuo, Ping-Sing, 2003. "A dual Dutch auction in Taipei: the choice of numeraire and auction form in multi-object auctions with bundling," Journal of Economic Behavior & Organization, Elsevier, vol. 51(4), pages 427-442, August.
    18. Chu, Singfat, 2012. "Allocation flexibility and price efficiency within Singapore’s Vehicle Quota System," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(10), pages 1541-1550.
    19. Vasserman, Shoshana & Watt, Mitchell, 2021. "Risk aversion and auction design: Theoretical and empirical evidence," International Journal of Industrial Organization, Elsevier, vol. 79(C).
    20. Committee, Nobel Prize, 2020. "Improvements to auction theory and inventions of new auction formats," Nobel Prize in Economics documents 2020-2, Nobel Prize Committee.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cla:uclawp:407. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: David K. Levine (email available below). General contact details of provider: http://www.econ.ucla.edu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.