A Note on Log Concave Survivor Functions in Auctions

Seamus Hogan and Laura Meriluoto

Working Papers in Economics from University of Canterbury, Department of Economics and Finance

Abstract: In a standard English auction in which bidders’ valuations are independently drawn from a common distribution, a standard regularity condition is that the survivor function of the distribution be log concave. In an auction where the seller sets a fixed price, the equivalent condition requires log concavity of a survivor function derived from the primitive distribution. In this note we show that log concavity of the primitive survivor function implies log concavity in the derived functions. This result is of interest when studying on-line auctions that combined aspects of fixed-price and English auctions.

Keywords: English Auction; Log Concavity; Survivor Function (search for similar items in EconPapers)
JEL-codes: C6 C7 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2010-04-27
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Persistent link: https://EconPapers.repec.org/RePEc:cbt:econwp:10/17

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