Ranking asymmetric auctions

Arieh Gavious () and Yizhaq Minchuk

International Journal of Game Theory, 2014, vol. 43, issue 2, 369-393

Abstract: We compare the expected revenue in first- and second-price auctions with asymmetric bidders. We consider “close to uniform” distributions with identical supports and show that in the case of identical supports the expected revenue in second-price auctions may exceed that in first-price auctions. We also show that asymmetry over lower valuations has a stronger negative impact on the expected revenue in first-price auctions than in second-price auctions. However, asymmetry over high valuations always increases the revenue in first-price auctions. Copyright Springer-Verlag Berlin Heidelberg 2014

Keywords: Asymmetric auctions; Ranking auctions; Perturbation analysis; Revenue equivalence; D44; D72; D82 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (12)

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DOI: 10.1007/s00182-013-0383-9

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