Computationally Convenient Distributional Assumptions for Common-Value Auctions

被引：36

作者：

Gordy M.B. ^{[1
,2
]}

机构：

[1] Bd. Governors Fed. Reserve Syst., Washington, DC

[2] Division of Research and Statistics, Mail Stop 153, Federal Reserve Board, Washington

来源：

Computational Economics | 1998年 / 12卷 / 1期

关键词：

Common-value auctions;

D O I：

10.1023/A:1008645531911

中图分类号：

学科分类号：

摘要：

Although the mathematical foundations of common-value auctions have been well understood since Milgrom and Weber (1982), equilibrium bidding strategies are computationally complex. Very few calculated examples can be found in the literature, and only for highly specialized cases. This paper introduces two sets of distributional assumptions that are flexible enough for theoretical and empirical applications, yet permit straightforward calculation of equilibrium bidding strategies.

引用

页码：61 / 78

页数：17

共 13 条

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