The role of information in auctions

Alp E. Atakan and Mehmet Ekmekci

Journal of Mathematical Economics, 2024, vol. 114, issue C

Abstract: This review discusses the seminal contributions of Engelbrecht-Wiggans et al. (1983) Milgrom and Weber (1982a) to the literature that studies the role of information in auctions. We describe the results in these papers and present several extensions. Much of the earlier literature on auctions takes the information environment as exogenous. The extensions that we present will demonstrate how the insights of Engelbrecht-Wiggans et al. (1983) and Milgrom and Weber (1982a) apply to the more recent literature on flexible information acquisition in auctions where the information structure is endogenously determined in equilibrium.

Keywords: Auctions; Information; Cost of information (search for similar items in EconPapers)
JEL-codes: C73 D44 D82 D83 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:114:y:2024:i:c:s0304406824000879

DOI: 10.1016/j.jmateco.2024.103027

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