Axiomatizations of second price auctions with a reserve price

研究成果: Article

3 引用 (Scopus)

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In single-item auctions, we show that an auction rule satisfies weak efficiency, strategy-proofness, and non-imposition if and only if it is either a second price auction with a reserve price or the no-trade rule. In this characterization, any reserve price is endogenously derived from the three axioms. We also analyze relations between equity and efficiency axioms, and obtain alternative characterizations.

元の言語English
ページ(範囲)255-265
ページ数11
ジャーナルInternational Journal of Economic Theory
9
発行部数3
DOI
出版物ステータスPublished - 2013 9 1

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ASJC Scopus subject areas

  • Economics and Econometrics

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