Creating a Winner’s Curse via Jump Bids

La Chaire Recherche

image
Auteur(s) David ETTINGER
Type de publication Working paper
Référence

GovReg Working Paper series | Issue 2017/02

We show that jump bids can be used by a bidder to create a winner's curse and preserve an informational advantage that would otherwise disappear in the course of an open ascending auction. The effect of the winner's curse is to create allocative distortions and reduce the seller's expected revenue. Two novel features of equilibrium jump bids are
derived. First, the jump bid may fail to hide completely the value of the common value component. Second, a bidder with a higher type might jump bid less frequently than a bidder with a lower type.

Nos communautés


  • Dauphine 300.png
  • Fondation 300.png
  • IOEA_LOGO_COMPLETE_0.png
  • SIOE_logo_RGB_0.png
  • oecd_logo_0.png

Nos partenaires


Les entreprises

  • ASFA_Log_CRVB_0.png
  • Ecologic-logo-rvb.png
  • logo_GROUPE_ADP_cmjn_0.png
  • RATP couleur grise.jpg
  • RTE_logo+signD_CMJN_CS4 - Copie_0.png
  • Le+logotype_0_0.png

 

Les institutions publiques

  • logo_conseil_2009_fr_gris_0.png
  • Logo_CGE-01_0_0.png
  • Cour des Comptes_0_0.png

 

Les experts

 

Les membres du Club des régulateurs

  • ACPR
  • ANJ
  • ANSSI
  • ARCEP new-court_2.png
  • logo_ART_cmjn.png
  • Logo DGAC_quadri_0.png