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Auctions with Downstream Interaction among Buyers
Abstract
We study an auction whose outcome influences the future interaction among agents. The impact of that interaction on agent i is assumed to be a function of all agents' types (which are private information at the time of the auction). Explicit illustrations treat auctions of patents and takeover contests. We derive equilibria for second-price, sealed-bid auctions in which the seller sometimes keeps the object, and we point out the various effects caused by positive and negative impacts. We also study the effect of reserve prices and entry fees on the seller's revenue and on welfare.
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Citations
Cited by
How (not) to run auctions: The European 3G telecom auctions
Klemperer, P. (2002) · European Economic Review · doi:10.1016/s0014-2921(01)00218-5 · Cited by 361
The Value of Personal Information in Online Markets with Endogenous Privacy
Montes, R., Sand-Zantman, W., & Valletti, T. (2019) · Management Science · doi:10.1287/mnsc.2017.2989 · Cited by 280
Bagwell, K., Bown, C. P., & Staiger, R. W. (2016) · Journal of Economic Literature · doi:10.1257/jel.20151192 · Cited by 122
Metadata
- Authors
- Jehiel, P., & Moldovanu, B.
- Venue
- The RAND Journal of Economics
- Publisher
- Wiley
- Published
- 2000
- Volume
- 31
- Issue
- 4
- Pages
- 768
- ISSN
- 0741-6261 (ISSN-L)
- OpenAlex
- W2078348924
- Cited by
- 239
- References
- 0
- FWCI
- 13.46
- Type
- journal article
- Language
- en
- Open access
- closed
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- Jehiel, P., & Moldovanu, B. (2000). Auctions with Downstream Interaction among Buyers. The RAND Journal of Economics. https://doi.org/10.2307/2696358
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
