Worst‐case equilibria in first‐price auctions
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DOI: 10.3982/te4555
Abstract: The usual analysis of bidding in first‐price auctions assumes that bidders know the distribution of valuations. We analyze first‐price auctions in which bidders do not know the precise distribution of their competitors' valuations, but only… read more here.
Keywords: first price; price; worst case; case equilibria ... See more keywords