Stabsseminar med Todd Kaplan

Fredagens stabsseminar ved Institutt for foretaksøkonomi blir ved Todd Kaplan fra University of Exeter.

27.03.2003 - Anette W. Petersen

Tema: Revenue Effects of Asymmetry in Private-Value Auctions

Tid: Fredag 28.mars, kl. 12.15-13.30
Sted: Karl Borch's Aud.

Abstract:
Two important questions concerning asymmetric auctions are: Which between the first-price and second-price auctions generates higher revenue? And is asymmetry favorable or unfavorable to the seller? We propose to model asymmetric auctions from an earlier stage so as to include in the model the differential information that generates the asymmetry of priors. This way of modeling enables us to establish a close relationship between the two questions and to study the strategic aspects of information (released possibly by the seller) that induces the asymmetry of the auction.

Paper er tilgjengelig på instituttets nettside.

Kontaktperson: Hans K. Hvide (59283).