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Optimal Search Auctions with Correlated Bidder Types

Crémer, Jacques, Yossi Spiegel and Charles Zheng
Authors registered in the RePEc Author Service: Jacques Crémer ()

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: We study optimal auctions when contacting prospective bidders is costly and the biddersï¾’ values are correlated. Although full surplus extraction is in general impossible, we can construct a search mechanism that fully extracts the surplus with an arbitrarily high probability.

Date: 2006-10-01
New Economics Papers: this item is included in nep-fmk, nep-gth and nep-knm
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Published in Economics Letters, October 2006, vol. 93 no. 1, pp. 94-100

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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:12663

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