Abstract
This paper characterizes the set of Nash equilibria in the second-price sealed-bid auction with independent private values and three or more bidders. In addition, we show that any effective reserve price implies uniqueness.
Original language | English (US) |
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Pages (from-to) | 170-177 |
Number of pages | 8 |
Journal | Journal of Economic Theory |
Volume | 114 |
Issue number | 1 |
DOIs | |
State | Published - Jan 2004 |
Externally published | Yes |
Keywords
- Reserve price
- Second-price sealed-bid auction
- Uniqueness
ASJC Scopus subject areas
- Economics and Econometrics