Bidding Lower with Higher Values in Multi-Object Auction
Multi-object auctions differ in an important way from single-object auctions. When bidders have multi-object demand, equilibria can exist in which bids decrease as values increase! Consider a model with n bidders who receive affiliated one-dimensional types t and whose marginal values are non-decrea...
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| Language: | en_US |
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2002
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| Online Access: | http://hdl.handle.net/1721.1/1599 |