| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5072239 | Games and Economic Behavior | 2011 | 12 Pages |
Abstract
The paper shows that in an open-ascending bid auction with multi-dimensional uncertainty about private and common value components, private information about the common value has negative value for a bidder if there are sufficiently many bidders. We discuss the role of the visibility of bids and the multi-dimensionality of private information for this result.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Ángel Hernando-Veciana, Michael Tröge,