Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5058422 | Economics Letters | 2015 | 5 Pages |
Abstract
â¢We study a popular game called the lowest unique bid auction (LUBA).â¢The number of participants is assumed to be Poisson distributed.â¢We prove existence of a unique equilibrium and study its properties.â¢The results closely approximate known results for a fixed number of players.
We characterize the unique Poisson-Nash equilibrium of the lowest unique bid auction (LUBA) when the number of bidders is uncertain and follows a Poisson distribution.
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Authors
Erik Mohlin, Robert Ãstling, Joseph Tao-yi Wang,