A Class of Dominance Solvable Common-Value Auctions

Ronald Harstad and Dan Levin ()

The Review of Economic Studies, 1985, vol. 52, issue 3, 525-528

Abstract: Dominant strategies seldom exist in non-cooperative games. Moulin's concept of a dominance solvable game generalizes, dominant strategy without dramatic loss in appeal. We consider a class of common-value auctions characterized by the property that the maximum of a collection of informative signals is a sufficient statistic for the entire collection. We demonstrate that this class of second-price auctions is dominance solvable.

Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:52:y:1985:i:3:p:525-528.

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The Review of Economic Studies is currently edited by Thomas Chaney, Xavier d’Haultfoeuille, Andrea Galeotti, Bård Harstad, Nir Jaimovich, Katrine Loken, Elias Papaioannou, Vincent Sterk and Noam Yuchtman

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