Low and high types of bidders in asymmetric auctions with a general utility function

  • Yizhaq Minchuk

Research output: Contribution to journalArticlepeer-review

2 Scopus citations

Abstract

We study asymmetric first-price auctions with n bidders. We expand the results of Fibich et al. (2002) for asymmetric first-price auctions to a general utility function. We show that for low type bidders, the equality of equilibrium bids with symmetric, uniform distribution bids holds for the general case of a utility function. For high types of bidders, those with weaker distributions bid more aggressively than stronger bidders under mild assumptions of a utility function.

Original languageEnglish
Pages (from-to)1328-1332
Number of pages5
JournalEconomics Bulletin
Volume2
Issue number1
StatePublished - 3 Sep 2013
Externally publishedYes

ASJC Scopus subject areas

  • General Economics, Econometrics and Finance

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