English, Article, Journal or magazine article edition: Ignorance Promotes Competition: An Auction Model with Endogenous Private Valuations Juan José Ganuza

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Bookmark: http://trove.nla.gov.au/version/154975
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Ignorance Promotes Competition: An Auction Model with Endogenous Private Valuations
Author
  • Juan José Ganuza
Physical Description
  • preprint
Notes
  • We study a situation in which an auctioneer wishes to sell an object to one of N risk-neutral bidders with heterogeneous preferences. The auctioneer does not know bidders’ preferences but has private information about the characteristics of the ob ject, and must decide how much information to reveal prior to the auction. We show that the auctioneer has incentives to release less information than would be efficient and that the amount of information released increases with the level of competition (as measured by the number of bidders). Furthermore, in a perfectly competitive market the auctioneer would provide the efficient level of information.
  • RePEc:upf:upfgen:671
Language
  • English
Contributed by
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