Sequential First-Price Auction with Randomly Arriving Buyers
2018 ◽
Vol 6
(1)
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pp. 29-34
Keyword(s):
AbstractIn this paper we reanalyze Said’s (2011) work by retaining all his assumptions except that we use the first-price auction to sell differentiated goods to buyers in dynamic markets instead of the second-price auction. We conclude that except for the expression of the equilibrium bidding strategy, all the results for the first-price auction are exactly the same as the corresponding ones for the second-price auction established by Said (2011). This implies that the well-known “revenue equivalence theorem” holds true for Said’s (2011) dynamic model setting.
2006 ◽
Vol 2006
◽
pp. 1-14
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Keyword(s):
2013 ◽
Vol 415
◽
pp. 726-729