On the failure of the linkage principle in multi-unit auctions
On the failure of the linkage principle in multi-unit auctions
复制标题
论多件拍卖中联动原则的失效
DOI：
10.1111/1468-0262.00056
复制
发表时间：
1999
期刊：
影响因子：
6.1
通讯作者：
P. Reny
中科院分区：
文献类型：
--
作者：
Motty Perry;P. Reny
结果表明，联系原则（Milgrom和Weber（1982））并没有扩展到多单位拍卖设置。本文对一般的两代理人/两单位Vickrey拍卖的均衡投标策略进行了分析，以提供对失败性质的经济学见解。此外，给出了一个明确的反例。两位作者感谢两国科学基金会（grant#9500023/1）的支持。Reny还感谢国家科学基金会（拨款# SBR-970932）和匹兹堡大学文理学院的支持。
It is shown that the linkage principle (Milgrom and Weber (1982)) does not extend to the multi-unit auction setting. An analysis of the equilibium bidding strategies is carried out for the general two-agent/two-unit Vickrey auction in order to provide economic insight into the nature of the failure. In addition, an explicit counterexample is provided. ∗ Both authors acknowledge support from the Binational Science Foudation (grant#9500023/1). Reny also acknowledges support from the National Science Foundation (grant# SBR-970932), and the University of Pittsburgh’s Faculty of Arts and Sciences.