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| Author: | Maskin, E. Riley, J. |
| Title: | Asymmetric auctions |
| Journal: | Review of Economic Studies
2000 : JUL, VOL. 67:3(232), p. 413-438 |
| Index terms: | Auctions Economic analysis Econometric models |
| Language: | eng |
| Abstract: | In this paper the authors drop the symmetry asumption, describe the basic model and then present three illustrative examples. In the following section they begin the formal analysis by characterizing buyers' equilibrium bidding strategies in the high-bid auction. They also show quite generally that "strong" buyers prefer the open auction, whereas "weak" buyers prefer the high-bid auction. |
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