Publication: Information disclosure in optimal auctions
Loading...
Identifiers
Publication date
2014-03
Defense date
Authors
Advisors
Tutors
Journal Title
Journal ISSN
Volume Title
Publisher
Impact
Export
Abstract
A celebrated result in auction theory is that the optimal reserve price in the standard private
value setting does not depend on the number of bidders. We modify the framework by considering
that the seller controls the accuracy with which bidders learn their valuations, and show that in
such a case, the greater the number of bidders the more restrictive the reserve price. We also
show that the auctioneer provides more information when using an optimal auction mechanism
than when the object is always sold.
Description
Keywords
Auctions, Private values, Information disclosure