کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5072296 | 1373499 | 2011 | 10 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The effects of statistically dependent values on equilibrium strategies of bilateral k-double auctions
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: The effects of statistically dependent values on equilibrium strategies of bilateral k-double auctions The effects of statistically dependent values on equilibrium strategies of bilateral k-double auctions](/preview/png/5072296.png)
چکیده انگلیسی
This paper describes how introducing statistical dependency among trader values changes the equilibrium bidding strategies in bilateral k-double auctions and uses the special case of affiliation to illustrate the range of equilibrium responses to a change in the value distribution. Consistent with standard intuition, a change from independent to strictly affiliated valuations can result in high-value buyers and low-value sellers bidding closer to their actual values while low-value buyers and high-value sellers distort their bids farther from their true values. However, there also exist equilibria for which either type of trader responds to a change in the distribution of values in the opposite direction. Whether a given trader bids more aggressively or less aggressively can also be non-monotonic with respect to the traderʼs value.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Games and Economic Behavior - Volume 72, Issue 1, May 2011, Pages 139-148
Journal: Games and Economic Behavior - Volume 72, Issue 1, May 2011, Pages 139-148
نویسندگان
Thomas A. Gresik,