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 language | English |
|---|---|
| Pages (from-to) | 1328-1332 |
| Number of pages | 5 |
| Journal | Economics Bulletin |
| Volume | 2 |
| Issue number | 1 |
| State | Published - 3 Sep 2013 |
| Externally published | Yes |
ASJC Scopus subject areas
- General Economics, Econometrics and Finance