DIVISION OF THE HUMANITIES AND SOCIAL SCIENCES CALIFORNIA INSTITUTE OF TECHNOLOGY PASADENA, CALIFORNIA 91125 THE RELEVANCE OF A CHOICE OF AUCTION FORMAT IN A COMPETITIVE ENVIRONMENT
DIVISION OF THE HUMANITIES AND SOCIAL SCIENCES CALIFORNIA INSTITUTE OF TECHNOLOGY PASADENA, CALIFORNIA 91125 THE RELEVANCE OF A CHOICE OF AUCTION FORMAT IN A COMPETITIVE ENVIRONMENT
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加州理工学院人文与社会科学系 帕萨迪纳，加利福尼亚州 91125 竞争环境中拍卖形式选择的相关性
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通讯作者：
Ilan Kremer
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作者：
M. Jackson;Ilan Kremer
我们通过分析和比较统一价格拍卖和歧视性价格拍卖与许多投标人在竞争环境中的相关性来检验拍卖形式的相关性。我们证明了，如果拍卖对象的数量相对于投标者的数量很小，那么两个拍卖的所有均衡都是近似充分的，并且导致近似相同的收益。如果拍卖标的的数量与竞价人的数量成正比，那么拍卖形式的细节就很重要。均匀拍卖的所有均衡都是充分的，而歧视性拍卖的所有均衡都是充分的。根据环境的具体情况，拍卖格式的相对收入排名可以是任一方向。凝胶分类阳离子编号：D44、C72、D41、G14
We examine the relevance of an auction format in a competitive environment by analyzing and comparing uniform and discriminatory price auctions with many bidders. We show that if the number of objects for sale is small relative to the number of bidders, then all equilibria of both auctions are approximately eÆcient and lead to approximately the same revenue. When the number of objects for sale is proportional to the number of bidders, then the particulars of the auction format matter. All equilibria of the uniform auction are eÆcient while all of the equilibria of the discriminatory auction are ineÆcient. The relative revenue rankings of the auction formats can go in either direction, depending on the speci cs of the environment. JEL classi cation numbers: D44, C72, D41, G14