Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10127708 | Economics Letters | 2018 | 13 Pages |
Abstract
This paper shows that for distributions that have linear density, the bid function at any symmetric, increasing equilibrium of a kth price auction with kâ¥3 can be represented as a finite series of kâ2 terms whose âth term involves the âth Catalan number. Using an integral representation of Catalan numbers together with some classical combinatorial identities, we derive the closed form of the unique symmetric, increasing equilibrium of a kth price auction for a non-uniform distribution.
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Authors
Abdel-Hameed Nawar, Debapriya Sen,