Auction Design with Advised Bidders
This paper studies efficient and optimal auction design where bidders do not know their values and solicit advice from informed but biased advisors via a cheap-talk game. When advisors are biased toward overbidding, we characterize efficient equilibria of static auctions and equilibria of the Englis...
| Main Authors: | , |
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| Format: | Article |
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ACM
2019
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| Online Access: | http://hdl.handle.net/1721.1/120724 https://orcid.org/0000-0002-6429-850X |