| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 9549338 | Economics Letters | 2005 | 7 Pages |
Abstract
This paper shows that low-price equilibria in the uniform price auction with endogenous supply do not exist if the seller employs the proportional rationing rule and is consistent when selecting among profit-maximizing quantities. In a (consistent) subgame perfect equilibrium the Walrasian quantities are traded at the Walrasian price.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Damian S. Damianov,