Decision Sciences
8 years ago

New Auction Model Revolutionizes Bidding for Multiple Units of Goods!

SSRN Electronic Journal
Equilibrium in a Uniform-Price Auction with Private Values
Justin Burkett

Paper Summary

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The article explores how bidders with private information bid for multiple units of the same item in an auction. The researchers found that the equilibrium bid functions can be fully understood, sometimes in a simple way. These bid functions are like combining bids from single-item auctions. This means that findings from single-item auctions can be applied to auctions with multiple items.