Secret versus public rings in common value auctions
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DOI: 10.1111/ijet.70008
Abstract: For a second‐price common value auction with an “almost all‐inclusive ring,” we analyze whether the auctioneer should reveal the ring's presence, and if so, whether this revelation should be public or private to the nonring… read more here.
Keywords: common value; value; public rings; rings common ... See more keywords
A Common Value Experimentation with Multiarmed Bandits
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DOI: 10.1155/2018/4791590
Abstract: We study a value common experimentation with multiarmed bandits and give an application about the experimentation. The second derivative of value functions at cutoffs is investigated when an agent switches action with multiarmed bandits. If… read more here.
Keywords: common value; multiarmed bandits; experimentation multiarmed; value experimentation ... See more keywords
Countering the winner's curse: Optimal auction design in a common value model
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DOI: 10.3982/te3797
Abstract: We characterize revenue maximizing mechanisms in a common value environment where the value of the object is equal to the highest of bidders’ independent signals. If the object is optimally sold with probability one, then… read more here.
Keywords: common value; auction; price; bidder ... See more keywords