Multi-unit auctions with uniform prices
Economic TheoryPublished 17 August 1998
Richard Engelbrecht‐Wiggans, Charles M. Kahn
Citations257
SJR quartileQ1
SJR score1.42
SNIP1.17
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Abstract
Auctions in which individuals can purchase more than one unit of the good being sold differ in striking ways from multi-unit auctions in which individuals may purchase only one unit. The uniform price auction in particular frequently yields Nash equilibria in which bidders underbid for their second unit and therefore pay very low prices for the good. This paper characterizes equilibria for the uniform price auction.
Keywords
Decision SciencesEconomics, Econometrics and FinanceBusiness, Management and Accounting
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