| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5072188 | Games and Economic Behavior | 2012 | 21 Pages |
Abstract
⺠Develop a general framework for modeling continuous information acquisition. ⺠Optimal monopoly price is always lower than standard monopoly price. ⺠Standard auctions with a reserve price remain optimal among symmetric mechanisms. ⺠Optimal reserve lies between mean valuation and standard reserve in Myerson (1981). ⺠Optimal asymmetric mechanism softens price discrimination against “strong” bidders.
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Authors
Xianwen Shi,