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COS 444 Internet Auctions: Theory and Practice
Spring 2008 Ken Steiglitz week 6 1a
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Assignment 3: discussion
3.1 Techniques for average-of-other auction 3.2 Best response 3.3 How can we encourage (subsidize?) early entry? week 6
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Early bidding equiibrium?
Rasmusen 06: bidder 1 is uncertain of value, can pay cost c to discover; bidder 2 is certain of value 1 starts with low bid 2 bids early to signal if his value is high 1 pays to discover her value on signal …Do you believe this? week 6
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Theory: Revenue equivalence II
We derive Revenue in second-price auctions Revenue in first-price auctions week 6
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