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Information Variability Impacts in Auctions

URI
http://hdl.handle.net/10355/2382
dc.contributor.authorHarstad, Ronald M.eng
dc.contributor.authorJia, Justineng
dc.contributor.authorRothkopf, Michael H.eng
dc.date.issued2009eng
dc.description.abstractA wide variety of auction models exhibit close relationships between the winner's expected profit and the expected difference between the highest and second-highest order statistics of bidders' information, and between expected revenue and the second-highest order statistic of bidders' expected asset values. We use stochastic orderings to see when greater environmental variability of bidders' information enhances expected profit and expected revenue.eng
dc.identifier.citationDepartment of Economics, 2009eng
dc.identifier.urihttp://hdl.handle.net/10355/2382eng
dc.publisherDepartment of Economicseng
dc.relation.ispartofEconomics publicationseng
dc.relation.ispartofcommunityUniversity of Missouri-Columbia. College of Arts and Sciences. Department of Economicseng
dc.relation.ispartofseriesWorking papers (Department of Economics);WP 09-08eng
dc.rightsOpenAccess.eng
dc.rights.licenseThis work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License.
dc.source.urihttp://econ.missouri.edu/working-papers/2009/WP0908_harstad.pdfeng
dc.subjectadverse selectioneng
dc.subjectproduct qualityeng
dc.subjectcommon-value auctionseng
dc.subjectprocurementeng
dc.subjectwinner's curseeng
dc.subject.lcshAuctionseng
dc.subject.lcshStochastic processeseng
dc.subject.lcshQuality of productseng
dc.titleInformation Variability Impacts in Auctionseng
dc.typeWorking Papereng


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