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Information Revelation and Efficiency in Auctions

Anna Mikusheva () and Konstantin Sonin ()
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Anna Mikusheva: Harvard University

No w0021, Working Papers from Center for Economic and Financial Research (CEFIR)

Abstract: We study the impact of information revelation on effciency in auctions. In a constrained-efficient mechanism, i.e. a mechanism that is efficient subject to the incentivecompatibility constraint, any additional information available to bidders increases the expected efficiency of the mechanism. This result cannot be extended to a more general setup: in a second-price sealed bid auction, revelation of information might lead to efficiency losses.

New Economics Papers: this item is included in nep-dev and nep-lam
Date: 2002-06
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Related works:
Journal Article: Information revelation and efficiency in auctions (2004) Downloads
Working Paper: Information Revelation and Efficiency in Auctions (2002) Downloads
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