Article ID Journal Published Year Pages File Type
5058595 Economics Letters 2015 4 Pages PDF
Abstract

•The Revelation Principle is not readily applicable in markets with many principals.•Does a seller want to deviate to any mechanism in competing auctions (Peters 1997)?•The sufficient condition for the robustness is embedded in its notion of equilibrium.

A competitive distribution of auctions (Peters 1997) is robust to the possibility of a seller's deviation to any arbitrary mechanisms, let alone direct mechanisms because the sufficient condition for the robustness is embedded in its notion of equilibrium.

Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
,