| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5072167 | Games and Economic Behavior | 2011 | 8 Pages |
Abstract
⺠We analyze a dynamic market where buyers compete in a sequence of auctions. ⺠New buyers and new objects may arrive to the market at random times. ⺠Buyersʼ private values for new objects are independently drawn. ⺠Buyers shade their bids by the endogenous option value of future auctions. ⺠We characterize the unique symmetric Markov equilibrium of this dynamic market.
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Economics and Econometrics
Authors
Maher Said,