Signal-Jamming in a Sequential Auction

Wei Ding, Thomas Jeitschko and Elmar Wolfstetter

Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems from Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich

Abstract: In a recurring auction early bids may reveal bidders’ types, which in turn affects bidding in later auctions. Bidders take this into account and may bid in a way that conceals their private information until the last auction is played. The present paper analyzes the equilibrium of a sequence of ?rst-price auctions assuming bidders have stable private values. We show that signal-jamming occurs and explore the dynamics of equilibrium prices.

Keywords: Auctions; Signaling; Price Competition (search for similar items in EconPapers)
Date: 2009-06
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Related works:
Journal Article: Signal jamming in a sequential auction (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:trf:wpaper:261

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